UNLEADED GASOLINE PRICES CONTINUE TO RISE WHILE NATURAL GAS PRICES TUMBLE

DES MOINES –   The price of Iowa Unleaded Retail Gasoline continues to rise, closing at $3.34, up $.15 cents from last week’s report.  Natural gas prices dropped $.39 cents, closing at $3.19. 

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.33 per barrel over last week, closing at $97.57.

Brent crude oil rose in price this week by $2.61 per barrel, closing at $115.22 from the previous week.

One year ago WTI crude sold for $98.48 and Brent crude was at $110.24.

Motor Fuels

As of Tuesday, January 29th, the price of regular unleaded gasoline averaged $3.34 across Iowa according to AAA.  This is up $.15 from last week and down $.02 from one year ago.  The national average on Tuesday was $3.39, up $.07 from last week’s price. 

Retail diesel fuel prices in Iowa were up $.02 on the Tuesday report with a statewide average of $3.81.   One year ago diesel prices averaged $3.74 in Iowa.   The current Iowa diesel average is $.11 per gallon lower than the national average of $3.92.

Wholesale ethanol prices rose $.02 this week, closing at $2.41. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.26 per gallon, up $.16 from last week’s price and up $.07 from one year ago.

Heating Fuels

Propane prices were up $.02 from last week’s figures with a statewide average of $1.41 per gallon.  Home heating oil rose a penny from last week’s figures, ending with a statewide average of $3.46 per gallon.  Natural Gas prices in Iowa were down $.39 from last week’s report, ending the week at $3.19 / MMbtu.

Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov.   Weekly and monthly fuel reports will soon be available on the Departments website at www.iowaagriculture.gov.