DES MOINES – Fuels prices continue to drop. Iowa retail gasoline was down $.05 cents, closing at $3.38. Natural gas fell $.11, closing at $2.39.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $6.47 per barrel over last week, closing at $84.29.
Brent crude oil also fell in price this week, finishing at $98.65 per barrel on Tuesday’s close, down $5.20 from the previous week.
One year ago WTI crude sold for $99.09 and Brent crude was at $115.40.
Motor Fuels
As of Tuesday, June 5th, the price of regular unleaded gasoline averaged $3.38 across Iowa according to AAA. This is down $.05 as compared to last week and down $.35 from one year ago. The national average on Tuesday was $3.57, down $.06 from last week’s price.
Retail diesel fuel prices in Iowa were down $.07 on the Tuesday report with a statewide average of $3.70. One year ago diesel prices averaged $3.90 in Iowa. The current Iowa diesel average is $.17 per gallon lower than the national average of $3.87.
Wholesale ethanol prices were down a penny this week, closing at $2.03. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.30 per gallon, down $.05 from last week’s price and down $.35 from one year ago.
Heating Fuels
Natural Gas prices in Iowa fell $.11 from last week’s report, ending the week at $2.39 / MMbtu.
