DES MOINES – For the sixth straight week, regular unleaded gasoline in Iowa and across the nation continued on a steady price decline. Iowa regular unleaded gasoline was down $.06 this week, averaging $3.47. The national average was down $.05, closing at $3.68.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $2.32 per barrel over last week, closing at $91.66.
Brent crude oil also fell in price this week, finishing at $109.76 per barrel on Tuesday’s close, down $1.64 from the previous week.
One year ago WTI crude sold for $99.09 and Brent crude was at $110.13.
Motor Fuels
As of Tuesday, May 22nd, the price of regular unleaded gasoline averaged $3.47 across Iowa according to AAA. This is down $.06 as compared to last week and down $.37 from one year ago. The national average on Tuesday was $3.68, down $.05 from last week’s price.
Retail diesel fuel prices in Iowa were down $.07 on the Tuesday report with a statewide average of $3.83. One year ago diesel prices averaged $3.96 in Iowa. The current Iowa diesel average is $.15 per gallon lower than the national average of $3.98.
Wholesale ethanol prices held steady this week, closing at $2.13. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.39 per gallon, down $.05 from last week’s price and down $.20 from one year ago.
Heating Fuels
Natural Gas prices in Iowa rose $.19 from last week’s report, ending the week at $2.59 / MMbtu.
