Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $6.72 per barrel over last week, currently priced at $75.95.
Brent crude oil fell $6.41 and is currently priced at $80.24.
One year ago, WTI crude sold for $88.91 and Brent crude was at $96.85.
As of Wednesday, the price of regular unleaded gasoline averaged $3.11 across Iowa according to AAA. This is an 8 cent drop from last week, and 43 cents lower from 12 months ago. The national average on Wednesday was $3.41, down 5 cents from last week’s price.
Meanwhile, retail diesel prices in Iowa fell 14 cents this week with a statewide average of $4.37, which is now 2 cents lower than the national average. A gallon of diesel would have cost you $5.13 a year ago in Iowa.
Wholesale ethanol held steady and is currently priced at $2.16. The current Des Moines Terminal/Rack Prices are $2.15 for U87-E10, $2.41 for Unleaded 87 (clear), $2.84 for ULSD#2, $3.29 for ULSD#1, and $2.14 per gallon for E-70 prices.
Propane prices held steady with a statewide average of $1.54 per gallon. Home heating oil prices fell 33 cents, with a statewide average of $3.58 per gallon. Natural gas prices fell 46 cents at the Henry Hub reporting site and are currently priced at $3.09/MMbtu