(Spirit Lake)– Pull up to a gas pump these days and sticker shock is likely to set in.
The price of regular unleaded gasoline in the Iowa Great Lakes has soared to $3.97 a gallon.
Officials with the Petroleum Marketers and Convenience Stores of Iowa say you can blame the spike on several factors. One of them, they say, is an Environmental Protection Administration requirement for refineries to switch blends during the spring and summer to reduce emissions. That’s forced some refineries off line to revamp, while several others are off line for seasonal maintenance. Officials say that’s especially the case for several refineries in the Chicago area, which serve a large area of the midwest.
In addition, officials say a refinery in Oklahoma has announced plans to reduce production.
It’s all led to a decrease in supply while demand is on the increase, driving prices higher just in time for the busy summer driving season.
Officials with the Petroleum Marketers and Convenience Stores of Iowa say that while consumers will likely see even more increases in fuel prices in the short term, that the higher prices shouldn’t remain for the long term.
Just a month ago the average statewide price for a gallon of regular unleaded in Iowa was $3.45 a gallon.
