DES MOINES – Natural gas prices in Iowa spiked $1.98 this week, closing the week at $7.63 / MMbtu. Propane prices continued to fall, down $.43 from last week with a statewide average of $3.08 per gallon.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.97 per barrel over last week, currently at $100.31.
Brent crude oil rose $2.49 this week, currently at $108.76.
One year ago WTI crude sold for $97.51 and Brent crude was at $117.89.
As of Tuesday, February 11th, the price of regular unleaded gasoline averaged $3.25 across Iowa according to AAA. This is up $.03 from last week and down $.33 from one year ago. The national average on Tuesday was $3.32, up $.05 from last week’s price.
Retail diesel fuel prices in Iowa held steady on the Tuesday report with a statewide average of $3.78. One year ago diesel prices averaged $3.97 in Iowa. The current Iowa diesel average is $.16 per gallon lower than the national average of $3.94.
Wholesale ethanol prices fell $.02 this week, closing at $1.96. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.15 per gallon, up $.03 from last week’s price and down $.34 from one year ago.
Heating FuelsPropane prices fell $.43 compared to last week’s price with a statewide average of $3.08 per gallon. Home heating oil rose $.04 from last week’s figures, ending with a statewide average of $3.46. Natural Gas prices in Iowa were up $1.98 from last week’s report, ending the week at $7.63 / MMbtu.