Weekly Fuel Report – January 24th

Weekly Fuel Report

Crude Oil Summary

·        The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $3.66 per barrel and is currently priced at $75.43.

·        Brent crude oil rose $3.03 and is currently priced at $80.37.

·        One year ago, WTI crude sold for $80.13 and Brent crude was at $85.25.

Motor Fuels

·        As of Wednesday, the price of regular unleaded gasoline averaged $2.75 across Iowa according to AAA.

o   Prices rose 2 cents from last week’s price and are down 51 cents from a year ago.

o   The national average on Wednesday was $3.10, up 1 cent from last week’s price.

·        Retail diesel prices in Iowa held steady this week with a statewide average of $3.59.

o   One year ago, diesel prices averaged $4.24 in Iowa.

o   The current Iowa diesel price is 33 cents lower than the national average of $3.92.

·        Wholesale ethanol held steady and is currently priced at $2.16.

·        The current Des Moines Terminal/Rack Prices are $1.93 for U87-E10, $2.28 for Unleaded 87 (clear), $2.33 for ULSD#2, $2.64 for ULSD#1, and $1.81 per gallon for E-70 prices.

Heating Fuels

·        Propane prices averaged $1.57 per gallon statewide.

·        Home heating oil prices averaged $3.01 per gallon statewide.

·        Natural gas prices fell 18 cents at the Henry Hub reporting site and are currently priced at $2.65/MMbtu.

Tips for saving energy on the road or at home are available at energy.gov and fueleconomy.gov.