DES MOINES, Iowa—The Iowa Department of Agriculture and Land Stewardship monitors fuel prices in Iowa and noted that the prices for retail gasoline sales have continued to decline with summer arriving this week.  The price of retail gasoline in Iowa dropped $.06 this week, closing at $2.54 per gallon. Nationally, retail gasoline prices fell $.04, closing at $2.68 per gallon.

Crude Oil Summary

• The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.18 per barrel over last week, currently priced at $54.10.
• Brent crude oil rose $1.11, and is currently priced at $62.10.
• One year ago, WTI crude sold for $65.07 and Brent crude was at $74.92.

Motor Fuels

• As of Tuesday, June 18, the price of regular unleaded gasoline averaged $2.54 across Iowa according to AAA.
  • This is $.06 lower than last week and $.20 lower than one year ago.
  • The national average on Tuesday was $2.68, $.04 lower than last week’s price.
• Retail diesel fuel prices in Iowa were $.03 lower than last week’s price with a statewide average of $2.89.
  • One year ago, diesel prices averaged $3.14 in Iowa.
  • The current Iowa diesel price is $.12 less than the national average of $3.01.
• Wholesale ethanol prices rose $.04 from last week’s price, currently at $1.57.
• The current Des Moines Terminal/Rack Prices are $1.67 for U87-E10, $1.85 for Unleaded 87 (clear), ULSD#2 is at $1.89, ULSD#1 is at $2.21, and E-70 is priced at $1.65 per gallon.

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Heating Fuels

• Natural Gas prices fell $.11 at the Henry Hub reporting site and currently priced at $2.28/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)