DES MOINES – Crude oil prices were up sharply this past week on the West Texas Intermediate, increasing $2.33 to close at $100.74 per barrel. Unleaded gasoline prices continued increase, up $.09 this week in Iowa to $3.45 and the mid-grade blend with 10 percent ethanol increased $.08 as well to $3.37. A summary of the report follows, the full report is attached:
Crude Oil Summary
The price of global crude oil went up this week with West Texas Intermediate (WTI) $2.33 higher per barrel over last week, closing at $100.74.
Brent crude oil also rose this week, finishing at $118.30 per barrel on Tuesday’s close, up $1.44 from the previous week.
One year ago WTI crude sold for $84.32 and Brent crude was at $102.48.
Motor Fuels
As of Tuesday, February 14th, the price of regular unleaded gasoline averaged $3.45 across Iowa according to AAA. This is up $.09 as compared to last week and up $.31 from one year ago. The national average on Tuesday was $3.52, up $.04 from last week’s price.
Retail diesel fuel prices in Iowa had an increase of $.07 on the Tuesday report with a statewide average of $3.85. One year ago diesel prices averaged $3.47 in Iowa. The current Iowa diesel average is $.09 per gallon lower than the national average of $3.94.
Wholesale ethanol prices remained steady this week, closing at $2.21. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.37 per gallon, up $.08 from last week’s price and up $.24 from one year ago.
Heating Fuels
This week propane was down a penny with a statewide average of $1.83 per gallon. Home heating oil rose $.02, ending with a statewide average of $3.48 per gallon. Natural Gas prices in Iowa fell $.07 ending the week at $2.52 / MMbtu.
FULL REPORT
Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov.
