When Will Iowa Gas Prices Go Down?

Iowans are starting to hurt even more at the pump. The price of gas has risen 33 cents in the past week.

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Nothing seems to be affordable anymore. Many of us are trying to find ways to budget and cut back because of inflation. A pretty penny of people's paychecks is going towards filling up their vehicles.

I went to fill up my car on my way to work one morning and was absolutely shocked by the price of a gallon of regular gas.

A year ago gas prices in Iowa were significantly cheaper than they are now, according to AAA.

Regular: $2.844

Mid-grade: $3.013

Premium: $3.424

Diesel: $3.056

Currently, this week the cost of gas is higher than any time I can remember.

Regular: $4.727

Mid-grade: $4.850

Premium: $5.306

Diesel: $5.324

These prices are still well below the national average. The current average across the country is:

Regular: $4.986

Mid-grade: $5.353

Premium: $5.641

Diesel: $5.753

According to a report from CNBC, there's no solid date for when the gas prices will be going down. 2022 will continue to be a rough year for gas prices and inflation, but 2023 might be when we start to be seeing some relief.

That is when inflation is expected to taper off, but not necessarily go down.

Some experts are claiming that gas prices are expected to go even higher. A report from JP Morgan says that the average price for gas could hit $6.20 by the end of the summer.

Also, there are some who say that prices might just suddenly drop. So, the main answer is that it's anyone's guess when we'll be seeing relief.