DES MOINES, Iowa—The weekly fuel price report from the Iowa Department of Agriculture and Land Stewardship shows a decline in the retail gasoline prices.  The price of retail gasoline in Iowa dropped $.06 this week, closing at $2.60 per gallon. Nationally, retail gasoline prices fell $.08, closing at $2.72 per gallon.

Crude Oil Summary

• The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.14 per barrel over last week, currently priced at $51.92.
• Brent crude oil rose $.22, and it is currently priced at $60.99.
• One year ago, WTI crude sold for $66.36 and Brent crude was at $74.86.

Motor Fuels

• As of Tuesday, June 11, the price of regular unleaded gasoline averaged $2.60 across Iowa according to AAA.
  • This is $.06 higher than last week and $.19 lower than one year ago.
  • The national average on Tuesday was $2.72, $.08 lower than last week’s price.
• Retail diesel fuel prices in Iowa were $.05 lower than last week’s price with a statewide average of $2.92.
  • One year ago, diesel prices averaged $3.16 in Iowa.
  • The current Iowa diesel price is $.12 less than the national average of $3.04.
• Wholesale ethanol prices rose $.06 from last week’s price, currently at $1.53.
• The current Des Moines Terminal/Rack Prices are $1.71 for U87-E10, $1.87 for Unleaded 87 (clear), ULSD#2 is at $1.86, ULSD#1 is at $2.19, and E-70 is priced at $1.63 per gallon.

Heating Fuels

• Natural Gas prices rose $.02 at the Henry Hub reporting site and currently priced at $2.39/MMbtu.
• Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.

(contributed press release, IDALS)