DES MOINES –This week, there was a steep rise in the Iowa average unleaded retail gasoline price. Prices rose $.19 this week, closing at $3.70 per gallon. Mid-grade blend in Iowa (10% ethanol) also had a $.19 rise, closing at $3.62.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $1.41 per barrel over last week, closing at $94.21.
Brent crude oil also fell in price this week by $.74 per barrel, currently at $103.75.
One year ago WTI crude sold for $93.98 and Brent crude was at $111.40.
Motor Fuels
As of Tuesday, May 15th, the price of regular unleaded gasoline averaged $3.70 across Iowa according to AAA. This is up $.19 from last week and up $.17 from one year ago. The national average on Tuesday was $3.59, up $.05 from last week’s price.
Retail diesel fuel prices in Iowa were up $.04 on the Tuesday report with a statewide average of $3.77. One year ago diesel prices averaged $3.90 in Iowa. The current Iowa diesel average is $.11 per gallon lower than the national average of $3.88.
Wholesale ethanol prices rose $.09 this week, closing at $2.65. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.62 per gallon, up $.19 from last week’s price and up $.18 from one year ago.
Heating Fuels
Propane prices were down a penny compared to last month’s price with a statewide average of $1.39 per gallon. Home heating oil rose $.04 from last month’s figures, ending with a statewide average of $3.45 per gallon. Natural Gas prices in Iowa were up $.07 from last week’s report, ending the week at $3.95 / MMbtu.
Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov.
