DES MOINES – Natural gas prices were on the rise this week, up $.33 from last week’s report, ending the week at $3.16.
Crude Oil Summary
The price of global crude oil dropped this week on the West Texas Intermediate (WTI) by $.72 per barrel over last week, closing at $88.50.
Brent crude oil also fell in price this week, finishing at $103.57 per barrel on Tuesday’s close, down $.64 from the previous week.
One year ago WTI crude sold for $99.59 and Brent crude was at $118.27.
Motor Fuels
As of Tuesday, July 24th, the price of regular unleaded gasoline averaged $3.49 across Iowa according to AAA. This is $.07 higher as compared to last week and down $.15 from one year ago. The national average on Tuesday was also $3.49, up $.06 from last week’s price.
Retail diesel fuel prices in Iowa were up $.09 on the Tuesday report with a statewide average of $3.72. One year ago diesel prices averaged $3.89 in Iowa. The current Iowa diesel average is $.04 per gallon lower than the national average of $3.76.
Wholesale ethanol prices fell this week by $.09, closing at $2.60. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.41 per gallon, up $.07 from last week’s price and down $.14 from one year ago.
Heating Fuels
Natural Gas prices in Iowa rose significantly, up $.33 from last week’s report, ending the week at $3.16 / MMbtu.
