Iowa Gas Prices Soar Amid Global Supply Chain Disruptions

Iowa motorists are facing higher gas prices as the current statewide average has hit $4.40 per gallon, up 35 cents since last Friday, according to AAA-Iowa.

The price of diesel fuel is also at a record high in Iowa, averaging $6.19 per gallon, surpassing its previous peak.

Brian Ortner, a spokesman for AAA-Iowa, attributes the rapid rise in pump prices to factors such as the conflict in the Middle East and the reduction in supply due to the lack of transport through the Strait of Hormuz.

Ortner notes that crude oil makes up more than 50% of the cost of fuel at the pump, with prices trading over $100 per barrel on the market.