Why Gas Prices Jumped Higher Last Week

Gas prices have jumped anywhere between 15 to 30 cents higher across Eastern Iowa in the last week. Motorists wonder why the sharp jump when the price of a barrel of crude oil has remained low?

An oversupply of gasoline led to the lower price of gasoline this fall and winter. Now that the supply has dwindled down and gas refineries are being shut down for routine maintenance. This, in turn, led to a jump in gas prices.

[VIA-KIWA]