DES MOINES – Crude oil prices fell by $1.10 on the West Texas Intermediate to close at $105.61 per barrel. Unleaded gasoline prices continued to climb, increasing by another $.07 in Iowa to $3.80. The mid-grade blend with 10 percent ethanol increased $.06 to $3.72. 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) $1.10 lower per barrel over last week, closing at $105.61.
Brent crude oil dropped sharply in price this week, finishing at $124.38 per barrel on Tuesday’s close, down $3.76 from the previous week.
One year ago WTI crude sold for $102.33 and Brent crude was at $114.92.
Motor Fuels
As of Tuesday, March 20th, the price of regular unleaded gasoline averaged $3.80 across Iowa according to AAA. This is up $.07 as compared to last week and up $.32 from one year ago. The national average on Tuesday was $3.86, 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 $3.99. One year ago diesel prices averaged $3.84 in Iowa. The current Iowa diesel average is $.16 per gallon lower than the national average of $4.15.
Wholesale ethanol prices fell a penny this week, closing at $2.30. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.72 per gallon, up $.06 from last week’s price and up $.32 from one year ago.
Heating Fuels
This week the propane price held steady with a statewide average of $1.79 per gallon. Home heating oil rose $.04, ending with a statewide average of $3.67 per gallon. Natural Gas prices in Iowa rose $.04 ending the week at $2.19 / MMbtu
