Iowa gas prices down 7.5% in past month

Iowa gas prices fell 7.5 percent in the past month to an average of $2.51 per gallon, according to the state's monthly survey.

The cost of gas in Iowa on Wednesday, June 16 was 10 cents per gallon below the national average, and 1.5 percent lower than the price a year ago, according to Iowa's Office of Energy Independence.

Kerri Johannsen, data analyst for the office, said prices have stabilized in the past week after dropping at the end of May and the beginning of June.

“Debt issues in Europe have created more uncertainty about economic recovery there, which has meant a dip in crude oil and gas prices both nationally and in Iowa,” Johannsen said.

The price of diesel fuel in Iowa fell by a smaller 5.5 percent, or 17 cents to an average of $2.90 per gallon.

The price of natural gas was up 6 percent from the May trading price of $4.85 per decatherm, at $5.12 per decatherm on June 16.