DES MOINES – The West Texas Intermediate showed crude oil prices down again this past week, falling $1.53 to $100.71 per barrel. Unleaded gasoline decreased $.01 in Iowa to $3.20 and the mid-grade blend with 10 percent ethanol decreased $.02 to $3.12. A summary of the report follows, the full report is attached:
Crude Oil Summary
The price of global crude oil went down this week with West Texas Intermediate (WTI) $1.53 lower per barrel over last week, closing at $100.71.
Brent crude oil fell sharply, finishing at $109.81 per barrel on Tuesday’s close, down $3.49 from the previous week.
One year ago WTI crude sold for $91.38 and Brent crude was at $97.83.
Motor Fuels
As of Tuesday, January 17th, the price of regular unleaded gasoline averaged $3.20 across Iowa according to AAA. This is down a penny as compared to last week and up $.12 from one year ago. The national average on Tuesday was $3.38, up $.01 from last week’s price.
Retail diesel fuel prices in Iowa were up a penny on the Tuesday report with a statewide average of $3.76. One year ago diesel prices averaged $3.35 in Iowa. The current Iowa diesel average is $.11 per gallon lower than the national average of $3.87.
Wholesale ethanol prices were down $.12 from last week, closing at $2.14. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.12 per gallon, down $.02 from last week’s price and down $.12 from one year ago.
Heating Fuels
This week propane fell $.02 with a statewide average of $1.86 per gallon. Home heating oil held steady, ending with a statewide average of $3.39 per gallon. Natural Gas prices in Iowa dropped $.49 ending the week at $2.47 / MMbtu. This is the lowest cost for natural gas in over five years.
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.
