(Spirit Lake)– Chances are you’ve noticed, but in case you haven’t, gasoline prices are on their way back up.
The price for a gallon of regular unleaded has gone up by almost a dime in the past week or so in the Iowa Great Lakes. As of Monday morning, the average price for a gallon of regular unleaded was $1.24.
David Downing, an energy analyst with the Iowa Department of Natural Resources, tells KUOO news there are several factors behind the increases. They include a jump in the price of crude oil as there’s more speculation the war on terrorism is about to spread into Iraq; an expected increase in demand has resulted in shrinking inventories; and a major refinery in Indiana is going off line for maintenance.
Downing says no relief to the higher prices is in site. If anything, he expects gas prices to go even higher as we get closer to spring.
