DES MOINES – The price of heating oil rose thirty cents from the mid-July reporting period. Heating oil closed at $3.62 today.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $.24 per barrel over last week, closing at $93.43.
Brent crude oil rose in price this week, finishing at $114.48 per barrel on Tuesday’s close, up $2.09 from the previous week.
One year ago WTI crude sold for $86.65 and Brent crude was at $108.89.
Motor Fuels
As of Tuesday, August 14th, the price of regular unleaded gasoline averaged $3.67 across Iowa according to AAA. This is $.08 higher as compared to last week and up $.15 from one year ago. The national average on Tuesday was $3.71, up $.06 from last week’s price.
Retail diesel fuel prices in Iowa were up $.10 on the Tuesday report with a statewide average of $3.92. One year ago diesel prices averaged $3.83 in Iowa. The current Iowa diesel average is $.02 per gallon lower than the national average of $3.94.
Wholesale ethanol prices rose this week by a penny, closing at $2.58. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.59 per gallon, up $.08 from last week’s price and up $.15 from one year ago.
Heating Fuels
Propane prices dropped $.03 from mid-July figures with a statewide average of $1.29 per gallon. Home heating oil spiked $.30 from mid-July figures, ending with a statewide average of $3.62 per gallon. Natural Gas prices in Iowa fell $.42 from last week’s report, ending the week at $2.80 / MMbtu.
