DES MOINES – Crude oil fell $2.99 on the West Texas Intermediate to close at $101.02 per barrel. Unleaded gasoline prices fell by $.05 in Iowa to $3.78. The mid-grade blend with 10 percent ethanol also fell $.05 to $3.70. A summary of the report follows, the full report is attached:
Crude Oil Summary
The price of global crude oil dropped this week on the West Texas Intermediate (WTI) by $2.99 per barrel over last week, closing at $101.02.
Brent crude oil also dropped sharply in price this week, finishing at $121.89 per barrel on Tuesday’s close, down $3.77 from the previous week.
One year ago WTI crude sold for $109.92 and Brent crude was at $126.46.
Motor Fuels
As of Tuesday, April 10th, the price of regular unleaded gasoline averaged $3.78 across Iowa according to AAA. This is down $.05 as compared to last week and up $.03 from one year ago. The national average on Tuesday was $3.92, down a penny 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 $4.03 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 $2.23. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.70 per gallon, down $.05 from last week’s price and up $.03 from one year ago.
Heating Fuels
Natural Gas prices in Iowa fell $.01 ending the week at $1.98 / MMbtu.
