RISE IN IOWA RETAIL GASOLINE, NATURAL GAS REMAINS VOLATILE
DES MOINES – Iowa retail gasoline prices rose $.07 this week, closing at $2.30 per gallon. Natural gas prices rose $.31, ending the week at $3.67/MMbtu.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.58 per barrel over last week, and is currently priced at $54.16.
Brent crude oil rose $1.84, and is currently priced at $56.37.
One year ago WTI crude sold for $36.81 and Brent crude was at $37.08.
As of Tuesday, December 27th, the price of regular unleaded gasoline averaged $2.30 across Iowa according to AAA. This is $.07 higher than one week ago and $.039 higher than one year ago. The national average on Tuesday was $2.29, up $.04 from last week’s price.
Retail diesel fuel prices in Iowa rose $.02 from last week’s price with a statewide average of $2.46. One year ago diesel prices averaged $2.11 in Iowa. The current Iowa diesel average is a penny lower than the national average of $2.47.
Wholesale ethanol prices were down $.03 from last week’s price, closing at $1.52.
The current Des Moines Terminal/Rack Prices are $1.65 for U87-E10, $1.79 for Unleaded 87 (clear), ULSD#2 is at $1.71, ULSD#1 is at $1.98, and E-70 is priced at $1.76 per gallon.
Propane prices were up $.03 from last week’s report, with a statewide average of $1.14 per gallon. Home heating rose $.04 from last week, ending with a statewide average of $2.04. Natural Gas prices rose $.31 at the Henry Hub reporting site and ended the week at $3.67 / MMbtu.