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COVID-19 Effects On Gas Prices

Normally, a crisis, like the coronavirus, would drive-up gas prices, but that is not the case. In fact it’s just the opposite. Over the past week, gasoline prices have dropped throughout the country, including here in Iowa. Mark Peterson with Triple A Iowa says the average price for a gallon of self-serve unleaded is $1.91 in Iowa. With the uncertainty of how long will it take to “flatten the COVID-19 curve” Peterson says people are simply driving less. At about this time every year refineries are switching from a winter grade to a summer grade of gasoline, which means that prices start to increase in the Spring, but that won’t be happening….at least for now. Peterson says it’s really difficult to say how long we’ll see these low gas prices. The average national price for a gallon of unleaded is $2.12.

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