Gas shoots up on tight supplies

Prices could go over $3 a gallon by Memorial Day

Gasoline prices rose 10 cents a gallon in the Des Moines area on Monday and Tuesday because of tight supplies.

Iowans could be paying more than $3 a gallon for regular gasoline by Memorial Day, said Brian Crowe, an energy data analyst for the Iowa Department of Natural Resources.

Most terminals in Iowa ran out of unleaded gasoline on Sunday and Monday and had to turn delivery drivers away, Crowe said. But the supply problem is expected to be solved within a week, he said, and gas should be in ample supply at conveniences stores and gas stations.
Supplies are tight because of increased demand, a refinery fire in Oklahoma, annual refinery switches from winter to summer blends and production cuts by the Organization for the Petroleum Exporting Countries, Crowe said.

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Dawn Carlson, a spokeswoman for the Petroleum Marketers & Convenience Stores of Iowa, attributed shortage problems in part to a fire and explosion on Friday that temporarily shut down Gary Williams Energy Corp.