Slight drop in retail gasoline prices

Retail gasoline prices in Iowa fell $.02, closing at $2.34 per gallon. U.S. average retail gasoline prices dropped $.04, closing at $2.30 per gallon.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.11 per barrel over last week, and is currently priced at $53.33.

Brent crude oil rose $.37, and is currently priced at $55.56.

One year ago WTI crude sold for $30.34 and Brent crude was at $29.82.

Motor Fuels

As of Tuesday, January 24th, the price of regular unleaded gasoline averaged $2.34 across Iowa according to AAA. This is $.02 lower than one week ago and $.54 higher than one year ago. The national average on Tuesday was $2.30, down $.04 from last week’s price.

Retail diesel fuel prices in Iowa held steady at last week’s price with a statewide average of $2.48. One year ago diesel prices averaged $1.92 in Iowa. The current Iowa diesel average is $.04 lower than the national average of $2.52.

Wholesale ethanol prices were down $.06 from last week’s price, closing at $1.44.

The current Des Moines Terminal/Rack Prices are $1.59 for U87-E10, $1.75 for Unleaded 87 (clear), ULSD#2 is at $1.67, ULSD#1 is at $1.86, and E-70 is priced at $1.59 per gallon.

Heating Fuels

Propane prices held steady at last week’s report, with a statewide average of $1.21 per gallon. Home heating prices dropped a penny from last week, ending with a statewide average of $2.06. Natural Gas prices fell $.06 at the Henry Hub reporting site and ended the week at $3.25 / MMbtu.

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