DES MOINES – The average retail heating oil price in Iowa dropped $.17 this week, closing at $3.63. Regular unleaded gasoline continued its downward trend with the price in Iowa averaging $3.38, down $.12 from last week, and the national average down $.11, closing at $3.52.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $.99 per barrel over last week, closing at $85.68.
Brent crude oil rose in price this week, currently at $108.55 per barrel, up $1.02 from the previous week.
One year ago WTI crude sold for $93.19 and Brent crude was at $108.43.
Motor Fuels
As of Tuesday, October 30th, the price of regular unleaded gasoline averaged $3.38 across Iowa according to AAA. This is $.12 lower than last week and down $.02 from one year ago. The national average on Tuesday was $3.52, down $.11 from last week’s price.
Retail diesel fuel prices in Iowa fell $.14 on the Tuesday report with a statewide average of $3.99. One year ago diesel prices averaged $3.82 in Iowa. The current Iowa diesel average is $.06 per gallon lower than the national average of $4.05.
Wholesale ethanol prices remained steady this week, closing at $2.41. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.29 per gallon, down $.12 from last week’s price and down $.02 from one year ago.
Heating Fuels
Propane prices rose a penny from last week’s figures with a statewide average of $1.39 per gallon. Home heating oil fell $.17 from last week’s figures, ending with a statewide average of $3.63 per gallon. Natural Gas prices in Iowa rose $.07 from last week’s report, ending the week at $3.42 / MMbtu.
