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Crude Oil Down, But Retail Gas Prices Up

Although the price of global crude oil fell by $.55 per barrel over the last week, the cost for a gallon of regular unleaded gasoline in Iowa rose by $.02, closing at $2.73 per gallon on average as of July 31. According to AAA, this is $.59 higher than a year ago, but still lower than the national average of $2.86. Retail diesel fuel prices rose about a penny over the last week for a new statewide average of $3.08, which is still $.07 lower than the national average but $.74 above the price this time last year.

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