DROP IN RETAIL GASOLINE, NATURAL GAS & CRUDE OIL PRICES
DES MOINES – Globe crude oil prices dropped $.81 per barrel in the last week on the West Texas Intermediate with gasoline and natural gas natural gas prices also lower on the week. The full report follows:
Crude Oil Summary
Global crude oil dropped modestly with West Texas Intermediate (WTI) dropping $.81 per barrel week over week to close at $92.19.
Brent crude oil dropped more substantially to $106.97 per barrel on Tuesday’s close, down $5.14 from the previous week.
Motor Fuels
As of Tuesday, November 1st, the price of regular unleaded gasoline averaged $3.40 across Iowa according to AAA. This is down $.03 as compared to last week. The national average on Tuesday was $3.43, down $.01 from last week. This is the second consecutive week that retail fuels have decreased.
Retail diesel fuel prices in Iowa rose $.05 on the Tuesday report with a statewide average of $3.85. This is still $.06 per gallon below the national average of $3.89.
Heating Fuels
Heating fuels came in this week with propane remaining the same as last week with a statewide average of $1.91 per gallon. Home heating oil rose $.04 cents since last week’s report ending with a statewide average of $3.54 per gallon. Natural Gas prices in Iowa fell by $.13 for the week down to $3.50 / MMbtu.
