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)
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