DES MOINES – Natural gas prices spiked $.68 this week, closing at $3.71/MMbtu.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.96 per barrel over last week, and is currently priced at $50.04.
Brent crude oil rose $2.71, and is currently priced at $53.18.
One year ago WTI crude sold for $37.65 and Brent crude was at $39.69.
As of Tuesday, December 6th, the price of regular unleaded gasoline averaged $2.14 across Iowa according to AAA. This is $.07 higher than one week ago and $.012 higher than one year ago. The national average on Tuesday was $2.19, up $.04 from last week’s price.
Retail diesel fuel prices in Iowa rose $.03 from last week’s price with a statewide average of $2.38. One year ago diesel prices averaged $2.33 in Iowa. The current Iowa diesel average is $.04 lower than the national average of $2.42.
Wholesale ethanol prices were up $.07 from last week’s price, closing at $1.64.
The current Des Moines Terminal/Rack Prices are $1.44 for U87-E10, $1.59 for Unleaded 87 (clear), ULSD#2 is at $1.59, ULSD#1 is at $1.80, and E-70 is priced at $1.69 per gallon.
Propane prices were up $.02 from last week’s report, with a statewide average of $1.06 per gallon. Home heating rose $.11 from last week, ending with a statewide average of $1.96. Natural Gas prices rose $.68 at the Henry Hub reporting site and ended the week at $3.71 / MMbtu.