DES MOINES – Crude oil prices fell slightly with the West Texas Intermediate down $.22 to $98.48 per barrel. However, unleaded gasoline increased $.10 in Iowa to $3.29 and the mid-grade blend with 10 percent ethanol also increased $.10 as well to $3.21. A summary of the report follows, the full report is attached:
Crude Oil Summary
The price of global crude oil went down slightly this week with West Texas Intermediate (WTI) $.22 lower per barrel over last week, closing at $98.48.
Brent crude oil rose this week, finishing at $110.26 per barrel on Tuesday’s close, up $1.88 from the previous week.
One year ago WTI crude sold for $90.77 and Brent crude was at $100.40.
Motor Fuels
As of Tuesday, January 31st, the price of regular unleaded gasoline averaged $3.29 across Iowa according to AAA. This is up $.10 as compared to last week and up $.18 from one year ago. The national average on Tuesday was $3.45, up $.07 from last week’s price.
Retail diesel fuel prices in Iowa went down a penny on the Tuesday report with a statewide average of $3.75. One year ago diesel prices averaged $3.41 in Iowa. The current Iowa diesel average is $.13 per gallon lower than the national average of $3.88.
Wholesale ethanol prices were down $.01 from last week, closing at $2.17. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.21 per gallon, up ten cents from last week’s price and down $.06 from one year ago.
Heating Fuels
This week propane was down a penny with a statewide average of $1.85 per gallon. Home heating oil rose $.04, ending with a statewide average of $3.40 per gallon. Natural Gas prices in Iowa dropped $.10 ending the week at $2.50 / 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.
