DES MOINES – All fuels show a decline in price this week. In Iowa, unleaded gasoline was down four cents to $3.43, diesel was down six cents to $3.77, and mid-grade blend (10% ethanol) was down four cents to $3.35.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $.90 per barrel over last week, closing at $90.76.
Brent crude oil also fell in price this week, finishing at $103.85 per barrel on Tuesday’s close, down $5.91 from the previous week.
One year ago WTI crude sold for $104.87 and Brent crude was at $114.85.
Motor Fuels
As of Tuesday, May 23rd, the price of regular unleaded gasoline averaged $3.43 across Iowa according to AAA. This is down $.04 as compared to last week and down $.34 from one year ago. The national average on Tuesday was $3.63, down $.05 from last week’s price.
Retail diesel fuel prices in Iowa were down $.06 on the Tuesday report with a statewide average of $3.77. One year ago diesel prices averaged $3.91 in Iowa. The current Iowa diesel average is $.16 per gallon lower than the national average of $3.93.
Wholesale ethanol prices were down $.09 this week, closing at $2.04. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.35 per gallon, down $.04 from last week’s price and down $.34 from one year ago.
Heating Fuels
Natural Gas prices in Iowa fell $.09 from last week’s report, ending the week at $2.50 / MMbtu.
