DES MOINES – Crude oil prices were down on the West Texas Intermediate by $1.60 to close at $104.70 per barrel. Unleaded gasoline prices were up again, but increased by only $.01 in Iowa to $3.62. The mid-grade blend with 10 percent ethanol increased $.06 to $3.59. A summary of the report follows, the full report is attached:
Crude Oil Summary
The price of global crude oil fell this week with West Texas Intermediate (WTI) $1.60 lower per barrel over last week, closing at $104.70.
Brent crude oil rose in price this week, finishing at $125.03 per barrel on Tuesday’s close, up $1.01 from the previous week.
One year ago WTI crude sold for $105.44 and Brent crude was at $116.58.
Motor Fuels
As of Tuesday, March 6th, the price of regular unleaded gasoline averaged $3.62 across Iowa according to AAA. This is up a penny as compared to last week and up $.12 from one year ago. The national average on Tuesday was $3.76, up $.03 from last week’s price.
Retail diesel fuel prices in Iowa had a $.02 increase on the Tuesday report with a statewide average of $3.93. One year ago diesel prices averaged $3.80 in Iowa. The current Iowa diesel average is $.16 per gallon lower than the national average of $4.09.
Wholesale ethanol prices rose $.03 this week, closing at $2.29. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.59 per gallon, up $.06 from last week’s price and up $.17 from one year ago.
Heating Fuels
This week propane went down a penny with a statewide average of $1.81 per gallon. Home heating oil held steady, ending with a statewide average of $3.60 per gallon. Natural Gas prices in Iowa fell $.13 ending the week at $2.30 / MMbtu.
