Gas prices steady as summer travel winds down

Gas prices in Iowa held almost steady in August as the summer travel season tapered off, according to a monthly state survey.

The average price of gasoline statewide in the August 16 survey was $2.61 per gallon, up only 3 cents from $2.58 per gallon on July 19.

Gas prices were 2 percent higher than a year earlier, when they averaged $2.55 per gallon across Iowa.

Iowa gas prices were about five cents per gallon below the national average in the survey, according to to Kerri Johannsen, data analyst for the Iowa Office of Energy Independence.

“Uneven economic news has somewhat tempered international oil markets, leading to steady fuel prices for the past few months,” Johannsen said.

The price of diesel in August averaged $2.93 per gallon across Iowa, up 4 cents per gallon from July.

Natural gas prices were up 4.6 percent in August, to $4.57 per decatherm (MMBtu). They were 40 percent higher than a year ago.

The average cost of propane in Iowa on August 16 was $1.45 per gallon.

The amount of working natural gas in storage as of August 6 was 7.9 percent higher than the five-year average, according to the United States Energy Information Administration.

Propane inventories in the United States were about average for August, but 12 million barrels below last year's level.