DES MOINES – Propane and heating oil continued their summer declines. Propane was down $.14 from $1.56 to $1.42 and heating oil was down $.22 from $3.46 to $3.24. Natural Gas also fell $.20, ending the week at $2.19.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $.97 per barrel over last week, closing at $83.32.
Brent crude oil also fell in price this week, finishing at $96.59 per barrel on Tuesday’s close, down $2.06 from the previous week.
One year ago WTI crude sold for $99.37 and Brent crude was at $120.49.
Motor Fuels
As of Tuesday, June 12th, the price of regular unleaded gasoline averaged $3.38 across Iowa according to AAA. This is the same as compared to last week and down $.28 from one year ago. The national average on Tuesday was $3.54, down $.03 from last week’s price.
Retail diesel fuel prices in Iowa were down $.04 on the Tuesday report with a statewide average of $3.66. One year ago diesel prices averaged $3.89 in Iowa. The current Iowa diesel average is $.15 per gallon lower than the national average of $3.81.
Wholesale ethanol prices were up a penny this week, closing at $2.04. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.30 per gallon, holding steady at last week’s price and down $.28 from one year ago.
Heating Fuels
Propane prices dropped $.14 from mid-May figures with a statewide average of $1.42 per gallon. Home heating oil dropped $.22 from mid-May figures, ending with a statewide average of $3.24 per gallon. Natural Gas prices in Iowa fell $.20 from last week’s report, ending the week at $2.19 / MMbtu.
