Diesel prices fall below $3

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For Immediate Release: Wednesday, Dec. 5, 2018


DES MOINES – The price of diesel in Iowa fell $.14 this week, closing at $2.96 per gallon.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.99 per barrel over last week, currently priced at $53.37.

Brent crude oil rose $3.45, and it is currently priced at $62.26.

One year ago, WTI crude sold for $57.62 and Brent crude was at $63.45.

Motor Fuels

As of Tuesday, Dec. 4, the price of regular unleaded gasoline averaged $2.18 across Iowa according to AAA. This is $.11 lower than last week and $.28 lower than one year ago. The national average on Tuesday was $2.45, down $.08 from last week’s price.

Retail diesel fuel prices in Iowa were $.14 lower than last week’s price with a statewide average of $2.96. One year ago, diesel prices averaged $2.82 in Iowa. The current Iowa diesel price is $.18 less than the national average of $3.14.

Wholesale ethanol prices were $.04 higher than last week’s price, currently at $1.27.

The current Des Moines Terminal/Rack Prices are $1.46 for U87-E10, $1.58 for Unleaded 87 (clear), ULSD#2 is at $1.93, ULSD#1 is at $2.34, and E-70 is priced at $1.41 per gallon.

Heating Fuels

Propane prices were a penny lower than last week for a statewide average of $1.34 per gallon. Home heating oil was down $.08 from last week’s figures, ending with a statewide average of $2.44. Natural Gas prices fell $.25 at the Henry Hub reporting site and currently priced at $4.47/MMbtu.


Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov.

Fuel report


For more information, contact Dustin Vande Hoef, (515) 281-3375 or (515) 326-1616 (cell) or Dustin.VandeHoef@IowaAgriculture.gov