DES MOINES – Crude oil prices were up $2.01 on the West Texas Intermediate to close at $106.71 per barrel. Unleaded gasoline prices continued to climb, increasing by $.06 in Iowa to $3.73. The mid-grade blend with 10 percent ethanol increased $.07 to $3.66. 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) $2.01 higher per barrel over last week, closing at $106.71.
Brent crude oil rose sharply in price this week, finishing at $128.14 per barrel on Tuesday’s close, up $3.11 from the previous week.
One year ago WTI crude sold for $101.19 and Brent crude was at $112.95.
Motor Fuels
As of Tuesday, March 13th, the price of regular unleaded gasoline averaged $3.73 across Iowa according to AAA. This is up $.06 as compared to last week and up $.22 from one year ago. The national average on Tuesday was $3.81, up $.05 from last week’s price.
Retail diesel fuel prices in Iowa had a $.03 increase on the Tuesday report with a statewide average of $3.96. One year ago diesel prices averaged $3.83 in Iowa. The current Iowa diesel average is $.16 per gallon lower than the national average of $4.12.
Wholesale ethanol prices rose $.02 this week, closing at $2.31. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.66 per gallon, up $.07 from last week’s price and up $.23 from one year ago.
Heating Fuels
This week the propane price dropped $.02 with a statewide average of $1.79 per gallon. Home heating oil rose $.03, ending with a statewide average of $3.63 per gallon. Natural Gas prices in Iowa fell $.15 ending the week at $2.15 / MMbtu.
