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For Immediate Release: Wednesday, Nov. 14, 2018
DES MOINES – The price of natural gas rose $1.19 this week, a 34% increase, currently at $4.71/MMbtu.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $5.20 per barrel over last week, currently priced at $56.74.
Brent crude oil fell $5.43 and is currently priced at $66.78.
One year ago, WTI crude sold for $55.70 and Brent crude was at $60.91.
Motor Fuels
As of Tuesday, November 13, the price of regular unleaded gasoline averaged $2.51 across Iowa according to AAA. This is $.11 lower than last week and $.03 lower than one year ago. The national average on Tuesday was $2.68, down $.07 from last week’s price.
Retail diesel fuel prices in Iowa were $.04 lower than last week’s price with a statewide average of $3.20. One year ago, diesel prices averaged $2.82 in Iowa. The current Iowa diesel price is $.05 less than the national average of $3.25.
Wholesale ethanol prices were $.03 lower than last week’s price, currently at $1.24.
The current Des Moines Terminal/Rack Prices are $1.60 for U87-E10, $1.79 for Unleaded 87 (clear), ULSD#2 is at $2.15, ULSD#1 is at $2.45, and E-70 is priced at $1.46 per gallon.
Heating Fuels
Propane prices remained steady from last week for a statewide average of $1.35 per gallon. Home heating oil was down $.05 from last week’s figures, ending with a statewide average of $2.66. Natural Gas prices rose $1.19 at the Henry Hub reporting site and currently priced at $4.71/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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For more information, contact Dustin Vande Hoef, (515) 281-3375 or (515) 326-1616 (cell) or Dustin.VandeHoef@IowaAgriculture.gov
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