Rise in Natural Gas Prices; Crude Oil Prices Drop

By CnAgri2012-09-28 19:33:07 Print

Natural gas prices rose by twelve cents, ending the week at $2.86. The West Texas Intermediate crude oil price fell $3.92 per barrel, closing at $91.37. Brent crude oil dropped $2.52 per barrel, finishing at $110.77.

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $3.92 per barrel over last week, closing at $91.37.

Brent crude oil also fell in price this week, finishing at $110.77 per barrel on Tuesday's close, falling $2.52 from the previous week.

One year ago WTI crude sold for $84.45 and Brent crude was at $107.90.

As of Tuesday, September 25th, the price of regular unleaded gasoline averaged $3.83 across Iowa according to AAA. This is $.03 lower than last week and up $.33 from one year ago. The national average on Tuesday was $3.81, down $.04 from last week's price.

Retail diesel fuel prices in Iowa fell $.02 on the Tuesday report with a statewide average of $4.00. One year ago diesel prices averaged $3.77 in Iowa. The current Iowa diesel average is $.09 per gallon lower than the national average of $4.09.

Wholesale ethanol prices fell this week by $.02, closing at $2.26. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.75 per gallon, down $.03 from last week's price and up $.33 from one year ago.

Natural Gas prices in Iowa rose $.12 from last week's report, ending the week at $2.86 / MMbtu.