DES MOINES – Propane prices made a significant retreat from Monday’s highs. However, this week’s values remain much higher than last week’s report with a $1.17 increase, closing at $3.78 per gallon. Natural Gas prices in Iowa were up $.66 from last week’s report, closing at $5.24 / MMbtu.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.52 per barrel over last week, currently at $97.22.
Brent crude oil fell $.32 this week, currently at $107.65.
One year ago WTI crude sold for $97.57 and Brent crude was at $115.22.
As of Tuesday, January 28th, the price of regular unleaded gasoline averaged $3.22 across Iowa according to AAA. This is up a penny from last week and up $.09 from one year ago. The national average on Tuesday was $3.28, holding steady at last week’s price.
Retail diesel fuel prices in Iowa were holding steady on the Tuesday report with a statewide average of $3.77. One year ago diesel prices averaged $3.81 in Iowa. The current Iowa diesel average is $.11 per gallon lower than the national average of $3.88.
Wholesale ethanol prices fell $.10 this week, closing at $1.79. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.12 per gallon, up $.02 from last week’s price and down $.11 from one year ago.
Propane prices rose $1.17 compared to last week’s price with a statewide average of $3.78 per gallon. Home heating oil dropped a penny from last week’s figures, ending with a statewide average of $3.42. Natural Gas prices in Iowa were up $.66 from last week’s report, ending the week at $5.24 / MMbtu.
Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov.