Gas prices hold steady as supply glut continues

Pumping Gas At Gas Pump.

Des Moines, Iowa – RadioIowa – Gasoline prices have remained relatively stable in the last couple of months.   Iowa Department of Agriculture fuels analyst Harold Hommes, says there haven’t been any surprises in the market other than the recent report on inventories.

He says that’s good news as it keeps the price down for motorists, but it’s not such good news for those who sell the product.

The most recent survey showed the average price of a gallon of unleaded gas in Iowa was two dollars, 36 cents.  That was the same as the week before.  Hommes says the continuing supply glut will continue to benefit drivers at the pump.

Gas prices bumped up 10 to 15 cents a couple of weeks ago, in a move that Hommes says was likely an attempt by retailers to make some more profit as last year in late January and February the gas prices softened

The price last week was 52 cents higher than one year ago.  The national average gas price was two dollars, 34 cents, two cents below Iowa’s average.

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