DES MOINES, Iowa—The Iowa Department of Agriculture and Land Stewardship is responsible for tracking energy related prices in Iowa. This week, the report notes a drop in crude oil prices. The price of crude oil on the West Texas Intermediate dropped $6.14, closing at $51.70 per barrel. Brent crude oil dropped $7.60, closing at $57.04 per barrel.
Crude Oil Summary
- The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $6.14 per barrel over last week, currently priced at $51.70.
- Brent crude oil fell $7.60, and is currently priced at $57.04.
- One year ago, WTI crude sold for $69.17 and Brent crude was at $72.31.
Motor Fuels
- As of Tuesday, August 6, the price of regular unleaded gasoline averaged $2.55 across Iowa according to AAA.
- This is $.01 lower than last week and $.18 lower than one year ago.
- The national average on Tuesday was $2.69, $.04 lower than last week’s price.
- Retail diesel prices in Iowa were $.01 lower than last week’s price with a statewide average of $2.85.
- One year ago, diesel prices averaged $3.08 in Iowa.
- The current Iowa diesel price is $.13 less than the national average of $2.98.
- Wholesale ethanol prices fell $.06 from last week’s price, currently at $1.42.
- The current Des Moines Terminal/Rack Prices are $1.68 for U87-E10, $1.92 for Unleaded 87 (clear), ULSD#2 is at $1.86, ULSD#1 is at $2.14, and E-70 is priced at $1.58 per gallon.
Heating Fuels
- Natural Gas prices fell $.01 at the Henry Hub reporting site and currently priced at $2.12/MMbtu.
- Continuing throughout the summer months, we will only report retail-heating oil and propane prices in Iowa once a month.
(contributed press release)
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