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Average Iowa gas prices decline
GasBuddy said refinery maintenance ending and cooler weather are easing fuel costs, but analysts warned Iran-related oil-market risks could quickly reverse the decline.
Gas prices fell nationwide and across Iowa on Friday, with the national average dropping 17.1 cents to $4.12 per gallon and Iowa prices declining 18.9 cents to $4.02 per gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, attributed the declines to refinery maintenance wrapping up and seasonal demand fading as cooler weather arrives.
Diesel prices also fell 5.9 cents to $6.281 per gallon. Regional variability shows Quad Cities at $4.21, Omaha at $3.96, and Des Moines at $3.85 per gallon.
Despite recent relief, prices remain elevated compared to last year. The national average stands $1.13 per gallon higher than a year ago, while Iowa prices are $1.29 per gallon higher.
De Haan cautioned that market volatility could return quickly following the election, as uncertainty over the Iran conflict continues to threaten oil markets.