National average for pump prices hits a new high for the year
Average retail gasoline prices in Iowa have fallen 1.9 cents per gallon in the past week, averaging $3.59 per gallon Sunday, according to GasBuddy's daily survey of 2,036 gas outlets in Iowa. This compares with the national average that has not moved in the last week to $3.68 per gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Iowa during the past week, prices Sunday were 13.7 cents per gallon higher than the same day one year ago and are 5.5 cents per gallon higher than a month ago.
Average retail gasoline prices in Missouri have risen 0.4 cents per gallon in the past week, averaging $3.53 per gallon Sunday, according to GasBuddy's daily survey of 3,940 gas outlets in Missouri.
Including the change in gas prices in Missouri during the past week, prices Sunday were 24.1 cents per gallon higher than the same day one year ago and are 5.2 cents per gallon higher than a month ago.
The national average has increased 3.5 cents per gallon during the last month and stands 17.7 cents per gallon higher than this day one year ago.
"Just in time for the July 4 weekend, it appears the national average has hit a new 2014 high in the last week," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "The good news is that we're seeing signs that the peak price we hit last week is starting to unwind, but with July 4 just days away, motorists shouldn't be expecting any big retreats in price before the weekend. The situation in Iraq has cooled, and if the situation remains calm and hurricane season continues to be a non-story, motorists will continue to see a slow decline in prices. But while the situation is slowly turning around and prices declining, it will still be the most expensive July 4 at the pump since 2008," DeHaan said.
(Information provided by GasBuddy.com)