DES MOINES – U.S. average retail diesel prices rose $.05 this week, closing at $2.52. Iowa retail diesel fuel increased $.03, and closed at $2.49 per gallon.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $.92 per barrel over last week, and is currently priced at $53.24.
Brent crude oil rose $.06, and is currently priced at $56.43.
One year ago WTI crude sold for $36.76 and Brent crude was at $36.28.
As of Tuesday, January 3rd, the price of regular unleaded gasoline averaged $2.35 across Iowa according to AAA. This is $.05 higher than one week ago and $.45 higher than one year ago. The national average on Tuesday was $2.35, up $.06 from last week’s price.
Retail diesel fuel prices in Iowa rose $.03 from last week’s price with a statewide average of $2.49. One year ago diesel prices averaged $2.08 in Iowa. The current Iowa diesel average is $.03 lower than the national average of $2.52.
Wholesale ethanol prices were down a penny from last week’s price, closing at $1.51.
The current Des Moines Terminal/Rack Prices are $1.63 for U87-E10, $1.77 for Unleaded 87 (clear), ULSD#2 is at $1.70, ULSD#1 is at $1.96, and E-70 is priced at $1.73 per gallon.
Propane prices were up $.03 from last week’s report, with a statewide average of $1.17 per gallon. Home heating rose $.04 from last week, ending with a statewide average of $2.08. Natural Gas prices fell $.28 at the Henry Hub reporting site and ended the week at $3.39 / MMbtu.