Iowa gas prices dropped last week

Average gasoline prices in Iowa have dropped by 7.7 cents per gallon over the past week. Gas is now averaging $2.97 per gallon, according to GasBuddy. Despite this drop, prices remain 2.2 cents higher than a month ago, but are 31.2 cents lower than the same time last year. Nationally, the average price of gasoline has fallen by 3.8 cents per gallon in the last week, now standing at $3.14 per gallon. The national average price of diesel has increased 2.7 cents in the last week and stands at $3.68 per gallon. GasBuddy’s 2025 Independence Day gas price forecast predicts the national average will drop to $3.15 per gallon on July 4, marking the lowest Independence Day price since 2021. If Middle East tensions remain contained and the U.S. avoids a major hurricane, the national average could fall below $3 per gallon later this summer.