What Happened To Possible Below $1 Gas Prices
Back in mid February, we were reporting on the possibility of near $1/gallon gas prices coming soon. Needless to say, it didn't happen. Instead, gas prices have started to rise, and now the midwest has some of the highest prices. Those who travelled over spring break might attest to that. Where the Midwest usually has some of the lowest prices in the nation, with Iowa usually leading the charge, we're currently among some of the highest prices, with Iowa sitting at the 10th highest in the nation.
Absurd, right? Maybe it's time they repeal that gas tax. I get all that. But before we storm the capitol or send nasty letters to the editor, let's first consider that we're still way under the near $4 a galllon we were paying a few years ago. We're also still under $2 a gallon for most of our area, although the state average is presently at 2.06. I guess we can be thankful, we're under that.
If you are frustrated, we'll take some blame for dangling that "less than a dollar" dream out there for you like bait. In consolation, we offer you this. While we don't know how high they will go, we do know the increase should end soon, hopefully. The Midwest is currently going through a seasonal cleaning at the facilities, making our fuel supply low, while the rest of the country is doing okay. Experts do hope to see some decreases in cost prior to Memorial Day. So that's good.
Of course, that also kicks off summer, and the more expensive summer blend. So if prices do drop prior to Memorial Day, we do expect them to strike back up quickly, and remain that way for a good portion of the summmer. Although again, we could be wrong. It's not like it hasn't happend before.