Gas Prices Set To Rise in Iowa Quite A Bit Starting Sunday
We knew the under $2 a gallon gas couldn't last forever. And come Sunday, we know it'll probably never happen again, so make sure you fill up tonight or tomorrow. However, it's not just the gas tax that shooting these prices up.On Wednesday, Gov. Branstad signed the gas tax increase into law, which will see prices rise 10 cents a gallon effective Sunday. This on top of the already rising prices at the pump. Since the "holiday present", we've seen prices rise a over a quarter a gallon, and they won't be stopping there.
Although the tax stinks for the wallet, I understand the need for it. It's for the good of the roads, right? I hope so. Coming from the Chicago suburbs, where gas prices are much higher due to taxes Iowa didn't have, I'm skeptical. Sure roads are being repaired, but they also break down just as quickly, creating a non-stop road construction viscous circle. Of course Iowa doesn't have quite the same "corruption" problems Illinois has struggled with. While I've enjoyed the lower prices on this side of the Mississippi, we saw this coming.
What we were told wouldn't happen though are the additional increases. If you recall, when prices were at their low, we were told to expect them to stay lower, as inventory was up, and would stay up. However, my "Gas Buddy" Ap popped a warning onto my phone the other day, before the tax increase was signed, warning of price increases. If my Ap is warning me, this can't be good. They're projecting a 10-cent per gallon increase each week over the next 2-3 weeks. Add all this up, and today's $2.25/gallon is going to be at $2.45/gallon next week, $2.55/gallon by St. Patty's Day, and possibly $2.65/gallon before March is done. YIKES!
Apparently, there's been a bunch of issues at refineries, as they are in the process of switching from the cheaper winter blend gas into the more expensive summer blend. The good news is, once systems get back in sync, we're rumored to be seeing prices more around $2.40/gallon for most of the summer. I'll keep my fingers crossed. Just hoping we'll at least stay well below the $3/gallon mark through the year, if not much, much longer.