Iowa Drivers Set to See Lowest Memorial Day Gas Prices in Years

While many items in stores remain expensive, the one area where Iowans actually are saving some money is at the gas pump. And as we head towards the Memorial Day weekend, prices at the pump will be the lowest in years.

What is the Average Price of Gas per Gallon in the U.S?

CNN reports that as of Memorial Day, the nationwide average price of gas will be $3.08 per gallon. The statistics from the website Gas Buddy reveal that gas prices will be the lowest during the holiday weekend since 2021. It is well below last year's average price of $3.56 per gallon, and way below 2022 when it stood at $4.60.

What is the Average Price of Gas per Gallon in Iowa?

According to data from Gas Buddy, prices at stations around the state of Iowa generally range from $2.61 to $2.88 per gallon, although you're likely to find some spots below and above that price point. Gas Buddy reports gas in the Des Moines and Davenport areas has dipped as low as $2.34 per gallon.

READ MORE: Wal-Mart Raising Prices on Dozens of Items

Why Are Gas Prices So Low?

CNN reports that after gas prices surged following Russia's invasion of Ukraine, President Trump has focused on combating energy prices. Since Trump took office, oil prices have been down 20%, thanks in large part to OPEC increasing production, something the President called for just days after taking office.

Experts say that if the current trends continue, the average price of gas could fall as low as $3.02 per gallon through summer and Labor Day, according to CNN.

A record 40 million Americans plan to hit the road this Memorial Day weekend.

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