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For Immediate Release
Wednesday, May 31, 2017

Dustin Vande Hoef
515/281-3375 or 515/326-1616 (cell)
or Dustin.VandeHoef@IowaAgriculture.gov

 
 

CRUDE OIL PRICES TREND DOWNWARD

DES MOINES – The price of global crude oil fell $3.30 this week, currently at $47.99.  Brent crude oil fell $3.90, currently priced at $50.00 per barrel.

Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $3.30 per barrel over last week, and is currently priced at $47.99.

Brent crude oil was down $3.90 and is currently priced at $50.00.

One year ago WTI crude sold for $49.10 and Brent crude was at $49.26.

Motor Fuels
As of Tuesday, May 30th, the price of regular unleaded gasoline averaged $2.31 across Iowa according to AAA.  This is up $.02 from last week and the same price as one year ago.  The national average on Tuesday was $2.37, holding steady at last week’s price. 

Retail diesel fuel prices in Iowa were up a penny with a statewide average of $2.47.   One year ago diesel prices averaged $2.29 in Iowa.   The current Iowa diesel average is $.04 lower than the national average of $2.51.

Wholesale ethanol prices rose $.03 from last week’s price, currently at $1.54. 

The current Des Moines Terminal/Rack Prices are $1.58 for U87-E10, $1.79 for Unleaded 87 (clear), ULSD#2 is at $1.61, ULSD#1 is at $1.77, and E-70 is priced at $1.65 per gallon.

Heating Fuels
Natural Gas prices are down $.15 at the Henry Hub reporting site and ended the week at $3.05/ MMbtu.

Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.

 

Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov

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Mailing Address: IDALS,  Wallace State Office Building,   502 E. 9th Street,  Des Moines, IA 50319:     PH: 515-281-5321
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