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For Immediate Release
Wednesday, August 8, 2012

Harold Hommes, (515) 282-6237
Harold.Hommes@IowaAgriculture.gov
Dustin Vande Hoef, 515-281-3375
Dustin.VandeHoef@IowaAgriculture.gov
 
 

 

RETAIL GASOLINE PRICES ON THE RISE; CRUDE OIL SPIKES

DES MOINES –   Iowa average unleaded retail gasoline price rose $.12 this week, closing at $3.59 per gallon.  The U.S. average unleaded retail gasoline price rose $.13 to close at $3.65 per gallon.  Cushing Crude oil climbed $5.61 per barrel to close at $93.67 while Brent crude oil spiked $6.46, to close at $112.39.

Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $5.61 per barrel over last week, closing at $93.67.

Brent crude oil also rose in price this week, finishing at $112.39 per barrel on Tuesday’s close, up $6.46 from the previous week.

One year ago WTI crude sold for $79.30 and Brent crude was at $103.06.

Motor Fuels
As of Tuesday, August 7th, the price of regular unleaded gasoline averaged $3.59 across Iowa according to AAA.  This is $.12 higher as compared to last week and down $.02 from one year ago.  The national average on Tuesday was $3.65, up $.13 from last week’s price. 

Retail diesel fuel prices in Iowa were up $.08 on the Tuesday report with a statewide average of $3.82.   One year ago diesel prices averaged $3.90 in Iowa.   The current Iowa diesel average is $.02 per gallon lower than the national average of $3.84.

Wholesale ethanol prices fell this week by $.06, closing at $2.57. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.51 per gallon, up $.12 from last week’s price and down $.02 from one year ago.

Heating Fuels
Natural Gas prices in Iowa fell $.23 from last week’s report, ending the week at $2.99 / MMbtu.

 

 FULL REPORT

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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