Iowa Gas Prices Soar Nearly 20 Cents Amid US-Iran Tensions

Gas prices across Iowa surged nearly 20 cents in just 24 hours due to rising tensions between the US and Iran, which pushed crude oil prices higher. The statewide average for regular gas jumped from $3.87 on Tuesday to $4.05 by Wednesday, according to AAA.

Certain drivers are paying even more, with several stations along University Avenue offering regular gas at $4.19 and premium reaching $5.01. Crude oil prices rose significantly, going from around $96 a barrel on Wednesday to about $87 last week.

According to Ortner, crude oil accounts for around 50% of the cost of fuel, making it a major factor in the price increase at the pump. AAA recommends that drivers make adjustments to save money, such as keeping tires properly inflated and carpooling.