DES MOINES – The price of regular unleaded gasoline in Iowa dropped ten cents this week, closing at $3.44. The cost of Mid-Grade Blend in Iowa (10% ethanol) also closed down ten cents, ending the week at $3.35.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $4.28 per barrel over last week, closing at $99.60.
Brent crude oil rose in price this week by $2.99 per barrel, closing at $103.96.
One year ago WTI crude sold for $87.66 and Brent crude was at $99.89.
Motor Fuels
As of Tuesday, July 2nd, the price of regular unleaded gasoline averaged $3.44 across Iowa according to AAA. This is down $.10 from last week and up $.09 from one year ago. The national average on Tuesday was $3.48, down $.06 from last week’s price.
Retail diesel fuel prices in Iowa were down $.02 on the Tuesday report with a statewide average of $3.71. One year ago diesel prices averaged $3.55 in Iowa. The current Iowa diesel average is $.11 per gallon lower than the national average of $3.82.
Wholesale ethanol prices fell $.04 this week, closing at $2.41. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.35 per gallon, down $.10 from last week’s price and up $.08 from one year ago.
Heating Fuels
Natural Gas prices in Iowa were down $.20 from last week’s report, ending the week at $3.57 / MMbtu.
Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov.
