DES MOINES, Iowa—The Iowa Department of Agriculture and Land Stewardship monitor fuel prices and this week released a report that shows a decline in crude oil prices. The price of global crude oil on the West Texas Intermediate fell $5.89 per barrel, currently priced at $51.78. Brent crude oil fell $8.35 per barrel, currently priced at $60.77.

Crude Oil Summary

• The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $5.89 per barrel over last week, currently priced at $51.78.
• Brent crude oil fell $8.35 and is priced at $60.77.
• One year ago, WTI crude sold for $65.52 and Brent crude was at $72.91.

Motor Fuels

• As of Tuesday, June 4, the price of regular unleaded gasoline averaged $2.66 across Iowa according to AAA.
  • This is the same price as last week and $.17 lower than one year ago.
  • The national average on Tuesday was $2.80, $.02 lower than last week.
• Retail diesel fuel prices in Iowa were $.02 lower than last week’s price with a statewide average of $2.97.
  • One year ago, diesel prices averaged $3.17 in Iowa.
  • The current Iowa diesel price is $.10 less than the national average of $3.07.
• Wholesale ethanol prices held steady at $1.47.
• The current Des Moines Terminal/Rack Prices are $1.74 for U87-E10, $1.92 for Unleaded 87 (clear), ULSD#2 is at $1.84, ULSD#1 is at $2.16, and E-70 is $1.65 per gallon.

Heating Fuels

• Natural Gas prices fell $.27 at the Henry Hub reporting site and is currently priced at $2.37/MMbtu.

(contributed press release, IDALS)