NATURAL GAS AT $3.00
DES MOINES – Natural gas prices fell $.25 this week, closing at $3.00/MMbtu.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $.05 per barrel over last week, and is currently priced at $53.28.
Brent crude oil rose $.63, and is currently priced at $56.19.
One year ago WTI crude sold for $31.62 and Brent crude was at $32.45.
Motor Fuels
As of Tuesday, January 31st, the price of regular unleaded gasoline averaged $2.31 across Iowa according to AAA. This is $.03 lower than one week ago and $.57 higher than one year ago. The national average on Tuesday was $2.28, down $.02 from last week’s price.
Retail diesel fuel prices in Iowa were down a penny from last week’s price with a statewide average of $2.47. One year ago diesel prices averaged $1.89 in Iowa. The current Iowa diesel average is $.04 lower than the national average of $2.51.
Wholesale ethanol prices were up $.06 from last week’s price, closing at $1.50.
The current Des Moines Terminal/Rack Prices are $1.56 for U87-E10, $1.71 for Unleaded 87 (clear), ULSD#2 is at $1.65, ULSD#1 is at $1.82, and E-70 is priced at $1.59 per gallon.
Heating Fuels
Propane prices were up $.04 from last week’s report, with a statewide average of $1.25 per gallon. Home heating prices dropped $.02 from last week, ending with a statewide average of $2.04. Natural Gas prices fell $.25 at the Henry Hub reporting site and ended the week at $3.00 / MMbtu.