DES MOINES – Crude oil prices continued to increase with the West Texas Intermediate up $.46 to close at $106.30 per barrel. Unleaded gasoline prices were also up again, increasing $.12 this week in Iowa to $3.61 and the mid-grade blend with 10 percent ethanol also increased $.12 to $3.53. Iowa diesel prices increased $.05 to $3.91 and the national diesel price is now $4.05. A summary of the report follows, the full report is attached:
Crude Oil Summary
The price of global crude oil rose this week with West Texas Intermediate (WTI) $.46 higher per barrel over last week, closing at $106.30.
Brent crude oil also rose in price this week, finishing at $124.02 per barrel on Tuesday’s close, up $.95 from the previous week.
One year ago WTI crude sold for $99.63 and Brent crude was at $112.27.
Motor Fuels
As of Tuesday, February 27th, the price of regular unleaded gasoline averaged $3.61 across Iowa according to AAA. This is up $.12 as compared to last week and up $.25 from one year ago. The national average on Tuesday was $3.73, up $.15 from last week’s price.
Retail diesel fuel prices in Iowa had a $.05 increase on the Tuesday report with a statewide average of $3.91. One year ago diesel prices averaged $3.64 in Iowa. The current Iowa diesel average is $.14 per gallon lower than the national average of $4.05.
Wholesale ethanol prices rose $.08 this week, closing at $2.26. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.53 per gallon, up $.12 from last week’s price and up $.25 from one year ago.
Heating Fuels
This week propane went down a penny with a statewide average of $1.82 per gallon. Home heating oil rose $.09, ending with a statewide average of $3.60 per gallon. Natural Gas prices in Iowa fell $.19 ending the week at $2.43 / MMbtu.
