Iowa Gas Prices Continue To Plummet
Blame it on the coronavirus. Blame it on the oil war between Saudi Arabia and Russia. You won't hear Iowans complaining about who's to blame for the price of gas right now at stations across the state. Prices are LOW and could be header even lower.
According to the site GasBuddy, the average price for regular unleaded in the state is $1.89 per gallon. Good luck finding it for that price though. Waterloo residents, as you can see, prices are over 20 cents lower than the state average!
You'll also notice that some of those prices listed are nearly one day old. Prices are seemingly dropping every day so check back at your local station as the price may have just changed.
The price of crude oil is also driving gas lower. Oil has leveled off at around $20 to $25 per barrel but is being sold around the world for much lower prices. And the worst could still be ahead. Oil consumption is down by nearly 20 million barrels per day because of the coronavirus outbreak. That growing surplus could push prices even lower. Not great signs for our global or national economy, but it makes filling up nice for the time being.