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For Immediate Release: Thursday, Dec. 27, 2018
DES MOINES – The price of retail gasoline in Iowa dropped $.10 this week, closing at $2.01 per gallon.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $2.64 per barrel over last week, currently priced at $44.97.
Brent crude oil fell $4.91, and it is currently priced at $52.71.
One year ago, WTI crude sold for $59.64 and Brent crude was at $66.03.
Motor Fuels
As of Wednesday, December 26, the price of regular unleaded gasoline averaged $2.01 across Iowa according to AAA. This is $.10 lower than last week and $.37 lower than one year ago. The national average on Tuesday was $2.30, down $.07 from last week’s price.
Retail diesel fuel prices in Iowa were $.06 lower than last week’s price with a statewide average of $2.78. One year ago, diesel prices averaged $2.83 in Iowa. The current Iowa diesel price is $.24 less than the national average of $3.02.
Wholesale ethanol prices were $.01 lower than last week’s price, currently at $1.26.
The current Des Moines Terminal/Rack Prices are $1.32 for U87-E10, $1.44 for Unleaded 87 (clear), ULSD#2 is at $1.74, ULSD#1 is at $2.09, and E-70 is priced at $1.36 per gallon.
Heating Fuels
Propane prices were a penny lower than last week for a statewide average of $1.33 per gallon. Home heating oil was down $.06 from last week’s figures, ending with a statewide average of $2.23. Natural Gas prices fell $.19 at the Henry Hub reporting site and currently priced at $3.44/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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