Iowa Gas Prices Are Dropping Just In Time For The Holidays

This might not always be the case but doesn't it seem like right before a busy time to travel, the price at the pumps increases? Around July 4th you've gotten used to seeing an increase in prices. During the Thanksgiving and Christmas months, you prepare to spend extra cash heading to your travel destinations. I have some fantastic news for you as you gear up for your end-of-the-year holiday plans in 2022. Gas prices are going down in Iowa.

It's not only in Iowa we're seeing gas prices falling but the entire country is saving a little more at the pump. According to KCRG, as of today, the national average is currently less than it was this time last year.

This feels like a moment where Iowans can collectively say, finally. During the summer months, Iowans experienced record-high gas prices. According to KCRG, at one point Iowans were shelling out $4.76 for a gallon of gas.

Today, the average price of gas in Iowa is $2.94. That's almost 60 cents less than gas cost only one month ago. Gas prices at this point are also 12 cents less than they were at this same time one year ago.

With the decrease in gas prices, does this change your holiday travel plans? I've gotten so used to gas being expensive that I've never allowed it to change how and when I travel. I've always just changed other parts of my spending habits to offset the cost of gas when it's expensive. It turns out, I might be in the minority when it comes to my thoughts on traveling when gas prices are high.

This is normally considered a busy travel time, yet the demand for gas has decreased. It appears fewer Iowans are planning to travel this year than normal. KCRG reports that less demand, high inflation, fears of a recession, and a stronger dollar have made an impact on the current gas prices. The price of oil is also at its lowest level in the last year.

I don't know about you but I'm counting this as a Christmas present for my bank account this time of the year. You might not need a reason for a celebratory Busch Light but I'll use this as an excuse. Reschedule those holiday travel plans and buy those extra presents because thankfully, you'll be putting a lot less money into your gas tank.