GAS SOARING: Prices Continuing To Rise
If you haven’t topped up your car lately, you may have already missed the best time to buy gas.
Gas prices in the Midwest are on the rise and Iowa is not being spared.
To say gas prices have gone up is an understatement. In fact they are soaring.
In Des Moines the average price for a gallon of regular gas is $3.92. That’s up 28-cents from just one week ago.
In the past month, gas has gone up nearly 50-cents.
Believe it or not, the memorial holiday is not to blame, “A refinery in Tulsa just started maintenance a few days ago and just within the last day or two a refinery in Alderaro, TX went down unexpectedly so a lot of this has to do with supply tightness in refineries,” says Patrick Dehaan.
He is an analyst with gasbuddy.com.
Dehaan says all of the maintenance puts pressure on America’s entire midsection as refineries try to keep up with demand.
But the increase is not being felt across the country.
The states most affected are Iowa, Kansas, Nebraska, North and South Dakota, Oklahoma and Minnesota.
As for reserves, Dehaan says there aren’t any because refineries are switching from the winter blend to summer.
Some lawmakers think the increase is unacceptable and are calling on the Energy Department to look more closely at the timing of refinery closures.
There isn’t any good news for drivers. Prices are expected to continue to rise for another week or two. And they could remain high into early June.