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IOWA GAS PRICES ON THE RISE, PROPANE COSTS CONTINUE TO FALL

 
IOWA GAS PRICES ON THE RISE, PROPANE COSTS CONTINUE TO FALL
Posted February 28th, 2014 @ 7:56am

DES MOINES – For the third consecutive week, retail gasoline prices in Iowa recorded an increase.  Prices rose $.11 this week, closing at $3.44 as of Tuesday.  Prices appear to have moved higher since yesterday but will not be reflected until next week’s report. 

 

Propane prices fell $.22, averaging $2.59 per gallon.

 

Crude Oil Summary

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $.22 per barrel over last week, currently at $102.77.

 

Brent crude oil fell $.80 this week, currently at $109.74.

 

One year ago WTI crude sold for $92.63 and Brent crude was at $112.96.

 

Motor Fuels

As of Tuesday, February 25th, the price of regular unleaded gasoline averaged $3.44 across Iowa according to AAA.  This is up $.11 from last week and down $.32 from one year ago.  The national average on Tuesday was $3.43, up $.05 from last week’s price. 

 

Retail diesel fuel prices in Iowa rose $.04 on the Tuesday report with a statewide average of $3.83.   One year ago diesel prices averaged $4.03 in Iowa.   The current Iowa diesel average is $.17 per gallon lower than the national average of $4.00.

 

Wholesale ethanol prices rose $.13 this week, closing at $2.23. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.34 per gallon, up $.12 from last week’s price and down $.33 from one year ago.

 

Heating Fuels

Propane prices fell $.22 compared to last week’s price with a statewide average of $2.59 per gallon.  Home heating oil rose $.05 from last week’s figures, ending with a statewide average of $3.54.  Natural Gas prices in Iowa were down $.18 from last week’s report, ending the week at $5.62 / MMbtu.

 

 

Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov.  

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