Retail Gasoline and Diesel Prices Continue to Fall

By CnAgri Print

Regular unleaded gasoline in Iowa was down $.05 from last week, averaging $3.33, and the national average was down $.06, closing at $3.46. Iowa retail diesel prices were down $.09, averaging $3.90, while the national diesel price was down $.03, closing at $4.02.

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $3.03 per barrel over last week, closing at $88.71.

Brent crude oil fell in price this week, currently at $106.74 per barrel, down $1.81 from the previous week.

One year ago WTI crude sold for $96.80 and Brent crude was at $112.22.

As of Tuesday, the price of regular unleaded gasoline averaged $3.33 across Iowa according to AAA. This is $.05 lower than last week and down $.06 from one year ago. The national average on Tuesday was $3.46, down $.06 from last week's price.

Retail diesel fuel prices in Iowa fell $.09 on the Tuesday report with a statewide average of $3.90. One year ago diesel prices averaged $3.85 in Iowa. The current Iowa diesel average is $.12 per gallon lower than the national average of $4.02.

Wholesale ethanol prices fell $.06 this week, closing at $2.35. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.25 per gallon, down $.04 from last week's price and down $.05 from one year ago.

Propane prices held steady from last week's figures with a statewide average of $1.39 per gallon. Home heating oil fell $.09 from last week's figures, ending with a statewide average of $3.52 per gallon. Natural Gas prices in Iowa fell $.04 from last week's report, ending the week at $3.38 / MMbtu.