DES MOINES – Brent crude oil dropped sharply for the second week in a row, finishing at $117.41, down $4.48. Natural gas prices dropped ten cents to close at $1.88. A summary of the report follows, the full report is attached:
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $3.18 per barrel over last week, closing at $104.20.
Brent crude oil dropped sharply in price for the second week in a row, finishing at $117.41 per barrel on Tuesday’s close, down $4.48 from the previous week.
One year ago WTI crude sold for $107.12 and Brent crude was at $121.69.
Motor Fuels
As of Tuesday, April 17th, the price of regular unleaded gasoline averaged $3.74 across Iowa according to AAA. This is down $.04 as compared to last week and down $.04 from one year ago. The national average on Tuesday was $3.90, down $.02 from last week’s price.
Retail diesel fuel prices in Iowa dropped $.02 on the Tuesday report with a statewide average of $3.98. One year ago diesel prices averaged $4.07 in Iowa. The current Iowa diesel average is $.16 per gallon lower than the national average of $4.14.
Wholesale ethanol prices fell $.07 this week, closing at $2.16. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.66 per gallon, down $.04 from last week’s price and down $.04 from one year ago.
Heating Fuels
Propane went down $.10 from last month’s report with a statewide average of $1.73 per gallon. Home heating oil fell $.05 from last month’s report, ending with a statewide average of $3.62 per gallon. Natural Gas prices in Iowa fell $.10 from last week’s report, ending the week at $1.88 / MMbtu.
