DES MOINES – Crude oil prices increased $1.72 on the West Texas Intermediate to close at $107.33 per barrel. Unleaded gasoline prices continued to climb, increasing by another $.02 in Iowa to $3.82. The mid-grade blend with 10 percent ethanol increased $.02 to $3.74. Retail diesel fuel in Iowa averaged $4.00 per gallon, increasing $.01 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) $1.72 higher per barrel over last week, closing at $107.33.
Brent crude oil rose in price this week, finishing at $125.25 per barrel on Tuesday’s close, up $.87 from the previous week.
One year ago WTI crude sold for $103.98 and Brent crude was at $115.95.
Motor Fuels
As of Tuesday, March 27th, the price of regular unleaded gasoline averaged $3.82 across Iowa according to AAA. This is up $.02 as compared to last week and up $.30 from one year ago. The national average on Tuesday was $3.91, up $.05 from last week’s price.
Retail diesel fuel prices in Iowa had a penny increase on the Tuesday report with a statewide average of $4.00. One year ago diesel prices averaged $3.86 in Iowa. The current Iowa diesel average is $.16 per gallon lower than the national average of $4.16.
Wholesale ethanol prices fell $.05 this week, closing at $2.25. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.74 per gallon, up $.02 from last week’s price and up $.29 from one year ago.
Heating Fuels
Heating fuels prices will only be reported once a month during the off-season.
