DES MOINES – The Iowa and U.S. average unleaded retail gasoline prices both dropped six cents this week. The Iowa average price closed at $3.23, while the U.S. average price ended the week at $3.32.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $2.71 per barrel over last week, closing at $85.79.
Brent crude oil rose in price this week, currently at $109.69 per barrel, up $.97 from the previous week.
One year ago WTI crude sold for $100.14 and Brent crude was at $107.82.
As of Tuesday, December 11th, the price of regular unleaded gasoline averaged $3.23 across Iowa according to AAA. This is down $.06 from last week and up $.04 from one year ago. The national average on Tuesday was $3.32, down $.06 from last week’s price.
Retail diesel fuel prices in Iowa fell $.03 on the Tuesday report with a statewide average of $3.84. One year ago diesel prices averaged $3.91 in Iowa. The current Iowa diesel average is $.13 per gallon lower than the national average of $3.97.
Wholesale ethanol prices fell $.08 this week, closing at $2.34. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.14 per gallon, down $.06 from last week’s price and up $.03 from one year ago.
Propane prices were down a penny from last week’s figures with a statewide average of $1.38 per gallon. Home heating oil fell $.07 from last week’s figures, ending with a statewide average of $3.47 per gallon. Natural Gas prices in Iowa were up a penny from last week’s report, ending the week at $3.38 / MMbtu.