Crude Oil Rebounds by $10 in the Past Week While Refined Fuel Prices Hold Steady
Crude Oil Summary
October 12, 2011 (Des Moines, Iowa) – Global crude oil prices reversed a four week downward trend this week to add just over $10 per barrel for the price of West Texas Intermediate (WTI). The Tuesday close for WTI was $85.81compared with just $75.67 a week earlier
Brent crude oil rose almost $9.00 a barrel ending on Tuesday’s close at $110.73.
Motor Fuels
As of Tuesday, October 11, the price of regular unleaded gasoline averaged $3.37 across Iowa according to AAA. This is identical to the reported price of one week ago. While Iowa gasoline prices remained steady for the week, the national average for unleaded gasoline rose by $.01 for an average of $3.41.
Retail diesel fuel prices in Iowa fell another $.03 to close at $3.68. This is $.12 per gallon below the national average of $3.80.
Heating Fuels
Heating fuels were generally steady since last week with no change in the average spot propane price of $1.90 and a price of $33.32 for home heating oil. Propane held steady from last month at $1.90 /MMbtu. Natural Gas prices in Iowa fell another $.05 for the week ending at $3.53 / MMbtu.
Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov. Weekly and monthly fuel reports will soon be available on the Departments website at www.iowaagriculture.gov.
