Why Did Gas Prices Jump 20-cents Overnight?

By Dave Franzman, Reporter

(DAVE FRANZMAN/KCRG-THE GAZETTE)

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By Aaron Hepker

CEDAR FALLS, Iowa — Gasoline prices in Iowa shot up nearly 20-cents a gallon overnight. The “AAA” motor club said there is an explanation. Gasoline prices in the entire Upper Midwest have gone up, putting the entire region above the national average.

The “AAA” Fuel Gauge report states the average price per gallon for unleaded regular fuel in Iowa is $3.76 at the close of business Wednesday. The national average is $3.60 a gallon. Because the fuel price report gathers prices at the end of the day, Iowa has likely gone even higher than that.

The “AAA” spokesperson in Minneapolis said two refineries near Chicago have closed for major maintenance, that closure is responsible for the spike in prices in Iowa and the Midwest.

The “AAA” does not expect prices to drop significantly until mid-June. Iowa typically has gasoline prices below the national average.

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