OUCH. Here’s Why Gas is So Expensive in Waterloo (and All of Iowa)
What hurts more these days than driving by a gas station and seeing those horrid prices for a gallon of gas? Not much, right? As we sit now, the average price per gallon of gas in Cedar Rapids is $3.24 according to Gas Buddy. In Waterloo, it's a bit lower with an average of $3.14 a gallon. Still, not cheap. Especially when you consider the cost in 2020 was an average of $2.08 (average in September 2020).
Why is gas so high?
In the fall, we usually see gas costs drop. Instead, we're seeing costs rise. In fact, we've hit a 7-year high. But why? Summer blend fuel is usually more expensive and that's done for the season. So what gives? There are a few reasons why gas costs have us screaming.
- Demand is up. According to a report from KHOU, we're driving more. This is obvious, right? Think of where we were last year. No crowds at sporting events. People working from home. No concerts. Much of this has changed in 2021, and so there's more demand for fuel.
- Crude oil costs are up. According to CBNC, the price of crude is above $80 a barrel. Crude is responsible for about half the costs of gas, and so they're directly related. Back as recently as August, crude was around $60 a barrel.
Your best bet to fight higher gas prices, assuming you cannot carpool or cut back on driving, is to shop around. Gas Buddy is an excellent source for scouting the lowest price, and in some cases, you won't have to drive out of your way to save.