DES MOINES – The Iowa and U.S. average unleaded retail gasoline prices continued their downward trend this week. The Iowa average price closed at $3.12, down $.11, while the U.S. average price ended the week at $3.23, down $.09.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.14 per barrel over last week, closing at $87.93.
Brent crude oil rose in price this week, currently at $110.29 per barrel, up $.60 from the previous week.
One year ago WTI crude sold for $97.22 and Brent crude was at $104.55.
As of Tuesday, December 18th, the price of regular unleaded gasoline averaged $3.12 across Iowa according to AAA. This is down $.11 from last week and down a penny from one year ago. The national average on Tuesday was $3.23, down $.09 from last week’s price.
Retail diesel fuel prices in Iowa fell $.03 on the Tuesday report with a statewide average of $3.81. One year ago diesel prices averaged $3.81 in Iowa. The current Iowa diesel average is $.12 per gallon lower than the national average of $3.93.
Wholesale ethanol prices fell $.08 this week, closing at $2.26. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.04 per gallon, down $.10 from last week’s price and down a penny from one year ago.
Propane prices were steady from last week’s figures with a statewide average of $1.38 per gallon. Home heating oil fell $.02 from last week’s figures, ending with a statewide average of $3.45 per gallon. Natural Gas prices in Iowa were down $.09 from last week’s report, ending the week at $3.29 / MMbtu.
Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov. Weekly and monthly fuel reports will soon be available on the Departments website at www.iowaagriculture.gov.
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