Fuel & Energy Price Update (Courtesy of the Iowa Department of Agriculture & Land Stewardship): Week of July 1
Author
Published
7/3/2024
DES MOINES, Iowa (July 3, 2024) – The price of regular unleaded gasoline rose 1 cent, averaging $3.32 across Iowa according to AAA.
Crude Oil Summary
- The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.31 per barrel over last week, currently priced at $83.21.
- Brent crude oil rose by $1.50 and is currently priced at $86.70.
- One year ago, WTI crude sold for $69.79 and Brent crude was at $74.52.
Motor Fuels
- As of Wednesday, the price of regular unleaded gasoline averaged $3.32 across Iowa according to AAA.
- Prices rose 1 cent from last week’s price and are down 2 cents from a year ago.
- The national average on Wednesday was $3.51, up 2 cents from last week’s price.
- Retail diesel prices in Iowa rose 8 cents this week with a statewide average of $3.59.
- One year ago, diesel prices averaged $3.59 in Iowa.
- The current Iowa diesel price is 25 cents lower than the national average of $3.84.
- Wholesale ethanol held steady and is currently priced at $2.16.
- The current Des Moines Terminal/Rack Prices are $2.39 for U87-E10, $2.68 for Unleaded 87 (clear), $2.65 for ULSD#2, $2.90 for ULSD#1, and $2.25 per gallon for E-70 prices.
Heating Fuels
- Natural gas prices fell 33 cents at the Henry Hub reporting site and are currently priced at $2.43/MMbtu.
Want more news on this topic? Farm Bureau members may subscribe for a free email news service, featuring the farm and rural topics that interest them most!