Gas prices expected to reach $3 per gallon

by | May 23, 2018 | 5 Ag Stories, News

Motorists have recently been battling rising gasoline prices.

AAA reports the national gas price average has risen 18-cents last month and six-cents in the past week. An AAA spokeswoman shares what is contributing to the stiff gain and ways to save money at the pump this summer.

AUDIO: Madison VanGundy, AAA

Madison VanGundy serves as community relations and public relations specialist for AAA. VanGundy says a combination of pieces have contributed to the higher gasoline prices.

?Nationally, we?re seeing an increase because crude oil prices are increasing while global supply is decreasing. Centrally, we?re switching over to the summer blend of gasoline. All gas stations are required to do that before June 1st, and that summer blend of gasoline is going to be more expensive. Regionally, some of our gasoline inventories have gone down, so that?s why we?re seeing an increase in the Central states. And just supply and demand. Our economy is doing very well right now, so people are experiencing rising incomes and choosing to travel more which is increasing the need for gas while the supply is going down globally.?

VanGundy says AAA expects the national gas price average to reach at least $3 a gallon. The national average currently sits at $2.93, the highest price point going into Memorial Day weekend since 2014. The average gas price in Iowa falls just shy of the national average, coming in at $2.83.

VanGundy encourages residents worried about the rising gas prices to conduct research, to find the lowest gas price in their area.

?Do your research,? VanGundy said. ?Gas stations set their own prices per gallon, so you are going to find different prices. Do your research on what gas stations are selling and try to find what?s the cheapest for you.?