Fuel Prices Drop Ahead of Labor Day Weekend
Fuel prices in Iowa and Omaha have seen some fluctuations ahead of the Labor Day weekend. According to AAA, the average price of regular unleaded gasoline in Iowa is about $3.89 per gallon, a decrease of 14 cents from last week. However, this is still up by $1.05 from a year ago.
The national average has also seen a slight increase, rising to $4.12 per gallon. In the Omaha metropolitan area, GasBuddy's surveys found that prices dropped 14.1 cents last week, with the cheapest gas being $3.59 per gallon and the most expensive at $4.60 per gallon.
The price of oil is a major factor in determining fuel costs, as it affects the cost of crude oil, refining, distribution, marketing, taxes, and blending of ethanol. Patrick De Haan, GasBuddy's head of petroleum analysis, noted that the recent Venezuelan oil deal may have an impact on global energy markets.