Crude Oil Summary
January 11, 2012 (Des Moines, Iowa) – The price of global crude oil went down this week with West Texas Intermediate (WTI) $.72 lower per barrel over last week, closing at $102.24.
Brent crude oil also fell this week, finishing at $113.30 per barrel on Tuesday’s close, down $.07 from the previous week.
Motor Fuels
As of Tuesday, January 10th, the price of regular unleaded gasoline averaged $3.21 across Iowa according to AAA. This is up $.07 as compared to last week. The national average on Tuesday was $3.37, up $.08 from last week’s price.
Retail diesel fuel prices in Iowa were up a penny on the Tuesday report with a statewide average of $3.75. This is $.11 per gallon lower than the national average of $3.86.
Wholesale ethanol prices were up $.02 from last week, closing at $2.26. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.14 per gallon, up $.07 from last week’s price.
Heating Fuels
This week propane continued to hold steady with a statewide average of $1.88 per gallon. Home heating oil rose $.08 compared to last week’s report, ending with a statewide average of $3.39 per gallon. Natural Gas prices in Iowa also held steady, 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.
