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For Immediate Release: Wednesday, Dec. 19, 2018
DES MOINES – The price of crude oil continues to fall, down $4.69 this week, closing at $47.61. Brent crude oil was down $3.48, closing at $57.62.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $4.69 per barrel over last week, currently priced at $47.61.
Brent crude oil fell $3.48, and it is currently priced at $57.62.
One year ago, WTI crude sold for $57.46 and Brent crude was at $63.69.
Motor Fuels
As of Tuesday, December 18, the price of regular unleaded gasoline averaged $2.11 across Iowa according to AAA. This is $.04 lower than last week and $.26 lower than one year ago. The national average on Tuesday was $2.37, down $.04 from last week’s price.
Retail diesel fuel prices in Iowa were $.06 lower than last week’s price with a statewide average of $2.84. One year ago, diesel prices averaged $2.82 in Iowa. The current Iowa diesel price is $.22 less than the national average of $3.06.
Wholesale ethanol prices were $.02 higher than last week’s price, currently at $1.27.
The current Des Moines Terminal/Rack Prices are $1.36 for U87-E10, $1.48 for Unleaded 87 (clear), ULSD#2 is at $1.78, ULSD#1 is at $2.13, and E-70 is priced at $1.37 per gallon.
Heating Fuels
Propane prices were the same as last week for a statewide average of $1.34 per gallon. Home heating oil was down $.05 from last week’s figures, ending with a statewide average of $2.29. Natural Gas prices fell $.57 at the Henry Hub reporting site and currently priced at $3.63/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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For more information, contact Dustin Vande Hoef, (515) 281-3375 or (515) 326-1616 (cell) or Dustin.VandeHoef@IowaAgriculture.gov
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