DES MOINES – Crude oil fell $3.32 on the West Texas Intermediate to close at $104.01 per barrel. Unleaded gasoline prices rose by $.01 in Iowa to $3.83. The mid-grade blend with 10 percent ethanol also increased $.01 to $3.75. Retail diesel fuel remained at $4.00 per gallon. A summary of the report follows, the full report is attached:
Crude Oil Summary
The price of global crude oil dropped sharply this week with West Texas Intermediate (WTI) $3.32 lower per barrel over last week, closing at $104.01.
Brent crude oil rose in price this week, finishing at $125.66 per barrel on Tuesday’s close, up $.41 from the previous week.
One year ago WTI crude sold for $108.47 and Brent crude was at $120.07.
Motor Fuels
As of Tuesday, April 3rd, the price of regular unleaded gasoline averaged $3.83 across Iowa according to AAA. This is up a penny as compared to last week and up $.20 from one year ago. The national average on Tuesday was $3.93, up $.02 from last week’s price.
Retail diesel fuel prices in Iowa held steady on the Tuesday report with a statewide average of $4.00. One year ago diesel prices averaged $3.90 in Iowa. The current Iowa diesel average is $.16 per gallon lower than the national average of $4.16.
Wholesale ethanol prices rose $.03 this week, closing at $2.28. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.75 per gallon, up a penny from last week’s price and up $.20 from one year ago.
Heating Fuels
Natural Gas prices in Iowa fell $.10 ending the week at $1.99 / MMbtu. This is the lowest price for natural gas in more than a decade.
