Midwest price hikes to slow down
It's been a perilous week for motorists in the nation's midsection as gasoline prices have soared. There's good news: relief may soon be on the way.
Spot gasoline prices, which have a strong and direct impact on retail prices, have seemingly begun to move lower. As spot prices move lower, the decreases are passed on to wholesale channels, and finally, allow gas stations to drop their retail prices several days later.
But it all comes too late, as many areas have set all time record highs for gasoline prices. Iowa, Minnesota, North Dakota, and Oklahoma have all seen new statewide record high averages in the last week. Cities breaking their all time highs include Des Moines, Minneapolis/St. Paul, Fargo, Oklahoma City, Sioux...
May 20, 2013