DES MOINES, Iowa—The Iowa Department of Agriculture and Land Stewardship is responsible for releasing the weekly fuel report and this week, the report shows a continuing decline in gasoline prices. The price of regular unleaded gasoline fell 24 cents, averaging $4.00 across Iowa according to AAA.

Crude Oil Summary

• The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $4.77 per barrel over last week, currently priced at $97.73.
• Brent crude oil rose $1.47 and currently priced at $106.98.
• One year ago, WTI crude sold for $71.65 and Brent crude was at $74.87.

Motor Fuels

• As of Wednesday, July 27, the price of regular unleaded gasoline averaged $4.00 across Iowa according to AAA.
  • Prices fell 24 cents from last week’s price and $1.01 higher than one year ago.
  • The national average on Wednesday was $4.30, down 17 cents from last week’s price.
• Retail diesel prices in Iowa were down 15 cents this week with a statewide average of $5.01.
  • One year ago, diesel prices averaged $3.12 in Iowa.
  • The current Iowa diesel price is 36 cents less than the national average of $5.37.
• Wholesale ethanol held steady and is currently priced at $2.16.
• The current Des Moines Terminal/Rack Prices are $2.73 for U87-E10, $3.17 for Unleaded 87 (clear), $3.67 for ULSD#2, $3.93 for ULSD#1, and $2.74 per gallon for E-70 prices.

Heating Fuels

• Natural gas prices rose $.61 at the Henry Hub reporting site and are currently priced at $8.57/MMbtu.
• Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.

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

(contributed press release)