Natural Gas Prices Drop

By CnAgri Print

The national natural gas market price dropped $.39 cents this week, closing at $3.37.

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.32 per barrel over last week, closing at $88.50.

Brent crude oil fell in price this week, currently at $108.72 per barrel, down $.83 from the previous week.

One year ago WTI crude sold for $101.28 and Brent crude was at $110.18.

As of Tuesday, the price of regular unleaded gasoline averaged $3.29 across Iowa according to AAA. This is down a penny from last week and up $.13 from one year ago. The national average on Tuesday was $3.38, down $.04 from last week's price.

Retail diesel fuel prices in Iowa fell a penny on the Tuesday report with a statewide average of $3.87. One year ago diesel prices averaged $3.95 in Iowa. The current Iowa diesel average is $.14 per gallon lower than the national average of $4.01.

Wholesale ethanol prices fell $.02 this week, closing at $2.42. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.20 per gallon, down a penny from last week's price and up $.12 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 $.03 from last week's figures, ending with a statewide average of $3.54 per gallon. Natural Gas prices in Iowa fell $.39 from last week's report, ending the week at $3.37 / MMbtu.