Natural Gas Prices Increase

By CnAgri Print

The national natural gas market price spiked fourteen cents this week, closing at $3.76.

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.43 per barrel over last week, closing at $87.18.

Brent crude oil fell in price this week, currently at $109.55 per barrel, down $.94 from the previous week.

One year ago WTI crude sold for $99.79 and Brent crude was at $109.38.

As of Tuesday, the price of regular unleaded gasoline averaged $3.30 across Iowa according to AAA. This is up a penny from last week and up $.10 from one year ago. The national average on Tuesday was $3.42, down a penny from last week's price.

Retail diesel fuel prices in Iowa rose $.06 on the Tuesday report with a statewide average of $3.88. One year ago diesel prices averaged $3.99 in Iowa. The current Iowa diesel average is $.14 per gallon lower than the national average of $4.02.

Wholesale ethanol prices rose $.05 this week, closing at $2.44. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.21 per gallon, holding steady at last week's price and up $.09 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 rose $.07 from last week's figures, ending with a statewide average of $3.57 per gallon. Natural Gas prices in Iowa rose $.14 from last week's report, ending the week at $3.76 / MMbtu.