DES MOINES – Iowa retail gasoline prices reversed their downward trend to finish $.09 higher compared to the previous week. Natural gas also increased significantly, rising by $.40, an 18% increase over the previous report.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.71 per barrel over last week, closing at $84.03.
Brent crude oil fell in price this week, finishing at $95.14 per barrel on Tuesday’s close, down $1.45 from the previous week.
One year ago WTI crude sold for $93.40 and Brent crude was at $112.21.
Motor Fuels
As of Tuesday, June 19th, the price of regular unleaded gasoline averaged $3.49 across Iowa according to AAA. This is an increase over the previous week of $.09 and down $.12 compared to one year ago. The national average on Tuesday was $3.49, down $.05 from last week’s price.
Retail diesel fuel prices in Iowa were down $.03 on the Tuesday report with a statewide average of $3.63. One year ago diesel prices averaged $3.89 in Iowa. The current Iowa diesel average is $.13 per gallon lower than the national average of $3.76.
Wholesale ethanol prices were up $.07 this week, closing at $2.11. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.41 per gallon, up $.11 from last week’s price and down $.11 compared to one year ago.
Heating Fuels
Natural Gas prices in Iowa spiked $.40 over last week’s report, ending the week at $2.59 / MMbtu.
Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov. Weekly and monthly fuel reports will soon be available on the Departments website at www.iowaagriculture.gov.
