DES MOINES – The West Texas Intermediate showed crude oil prices up again this past week, increasing $1.62 to $102.96 per barrel. Unleaded gasoline increased $.03 in Iowa to $3.14 and the mid-grade blend with 10 percent ethanol increased $.04 to $3.07. The price of natural gas in Iowa dropped $.13 to $2.96. A summary follows, the full report is attached:
Crude Oil Summary
The price of global crude oil went up this week with the West Texas Intermediate (WTI) $1.62 higher per barrel over last week, closing at $102.96. One year ago the WTI was $100.96 per barrel.
Brent crude oil also rose this week, finishing at $113.37 per barrel on Tuesday’s close, up $5.83 from the previous week.
Motor Fuels
As of Tuesday, January 3rd, the price of regular unleaded gasoline averaged $3.14 across Iowa according to AAA. This is up $.03 as compared to last week. The national average on Tuesday was $3.29, up $.05 from last week’s price. One year ago the Iowa average for unleaded gas was $3.04 and the national average was $3.07.
Retail diesel fuel prices in Iowa were down $.02 on the Tuesday report with a statewide average of $3.74. This is $.08 per gallon lower than the national average of $3.82.
Wholesale ethanol prices were up $.02 from last week, closing at $2.24. The price of mid-grade blend in Iowa (10% ethanol) closed at $3.07 per gallon, up $.04 from last week’s price.
Heating Fuels
This week propane held steady with a statewide average of $1.88 per gallon. Home heating oil dropped a penny compared to last week’s report, ending with a statewide average of $3.31 per gallon. Natural Gas prices in Iowa dropped $.13 ending the week at $2.96 / MMbtu.
FULL REPORT
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.
