DES MOINES – Crude oil prices fell slightly again this week on the West Texas Intermediate down another $.07 to $98.41 per barrel. However, unleaded gasoline prices continued increase, up $.07 this week in Iowa to $3.36 and the mid-grade blend with 10 percent ethanol increased $.08 as well to $3.29. 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) $.07 lower per barrel over last week, closing at $98.41.
Brent crude oil rose significantly this week, finishing at $116.86 per barrel on Tuesday’s close, up $6.60 from the previous week.
One year ago WTI crude sold for $86.94 and Brent crude was at $99.25.
Motor Fuels
As of Tuesday, February 7th, the price of regular unleaded gasoline averaged $3.36 across Iowa according to AAA. This is up $.07 as compared to last week and up $.22 from one year ago. The national average on Tuesday was $3.48, up $.03 from last week’s price.
Retail diesel fuel prices in Iowa had a slight increase of $.03 on the Tuesday report with a statewide average of $3.78. One year ago diesel prices averaged $3.47 in Iowa. The current Iowa diesel average is $.11 per gallon lower than the national average of $3.89.
Wholesale ethanol prices were up $.04 from last week, closing at $2.21. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.29 per gallon, up $.08 from last week’s price and up $.23 from one year ago.
Heating Fuels
This week propane was down a penny with a statewide average of $1.84 per gallon. Home heating oil rose $.06, ending with a statewide average of $3.46 per gallon. Natural Gas prices in Iowa rose $.09 ending the week at $2.59 / MMbtu.
FULL REPORT
Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov.
