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MAJOR INCREASE IN NATURAL GAS PRICES

 
MAJOR INCREASE IN NATURAL GAS PRICES
Posted February 13th, 2014 @ 3:35pm

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.

 Motor Fuels

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.

 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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