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The national average price of gas is $3.53 as of March 21. Iowans are currently paying about 20 cents less, but more than they were earlier this year. Yes, gas prices in Iowa are going up.
The current national gas price average is $3.62 per gallon. The average cost of gas has decreased 15% in the last two years, from when it was $4.27 per gallon. The highest recorded average price ...
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
Drivers in the states closest to the Gulf Coast's oil production and refineries are looking at average pump prices just under $3 per gallon, according to AAA data. Those include: Alabama: $2.95
In 2022, oil prices hit record highs of over $5 a gallon primarily on supply shocks following Russia's invasion of Ukraine at a time global fuel demand was surging due to easing COVID-era lockdowns.
Since then, prices have dropped, going back under $3 a gallon in many places. The average price of gasoline nationally last month was $3.39. The California average was $4.51.
Drivers can expect to end 2023 with gasoline prices around their lowest levels of the year. On Tuesday the national average price of gasoline was $3.08 per gallon, according to AAA data. It could ...
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