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Pump Prices Predicted To Plummet Soon

Northwest Iowa — As the weather gradually gets cooler, gasoline prices are also cooling off, and industry analysts say prices should start to fall here and nationwide, likely within days.

Rose White, at Triple-A Iowa, says the approach of Labor Day means an end to the summer driving season and a drop in demand.

The average price for gasoline in Iowa is now $2.72 a gallon, that’s more than 40-cents higher than a year ago. White anticipates pump prices will spiral downward soon as the switch from summer to winter-grade fuels begins.

While current gas prices in Iowa are almost identical to a month ago, White predicts they’ll start coming down very soon.

Waterloo and Dubuque are tied for having the most expensive gas in the state, averaging $2.76 a gallon, while the cheapest gas is in Council Bluffs at $2.64. In the Sheldon area, as of Thursday afternoon, pump prices were within a cent or two of $2.65 per gallon. Iowa’s all-time highest gas price hit in July of 2008 with $4.02.

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