Major Drop in Wholesale Ethanol Prices

By CnAgri2012-09-20 19:49:42 Print

Wholesale ethanol prices declined $.18 this week, closing at $2.28.

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $1.88 per barrel over last week, closing at $95.29.

Brent crude oil also fell in price this week, finishing at $113.29 per barrel on Tuesday's close, falling $1.57 from the previous week.

One year ago WTI crude sold for $86.89 and Brent crude was at $112.89.

As of Tuesday, the price of regular unleaded gasoline averaged $3.86 across Iowa according to AAA. This is $.01 higher than last week and up $.26 from one year ago. The national average on Tuesday was $3.85, down a penny from last week's price.

Retail diesel fuel prices in Iowa held steady on the Tuesday report with a statewide average of $4.02. One year ago diesel prices averaged $3.80 in Iowa. The current Iowa diesel average is $.10 per gallon lower than the national average of $4.12.

Wholesale ethanol prices fell this week by $.18, closing at $2.28. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.78 per gallon, up a penny from last week's price and up $.26 from one year ago.

Propane prices rose $.05 from mid-August figures with a statewide average of $1.34 per gallon. Home heating oil climbed $.10 from mid-August figures, ending with a statewide average of $3.72 per gallon. Natural Gas prices in Iowa fell $.10 from last week's report, ending the week at $2.74 / MMbtu.