The price of regular unleaded gasoline fell 7 cents, averaging $3.40 across Iowa according to AAA. 

Crude Oil Summary

  • The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $5.89 per barrel and is currently priced at $68.76.
  • Brent crude oil fell $5.59 and is currently priced at $72.44.
  • One year ago, WTI crude sold for $102.41 and Brent crude was priced at $104.94.

Motor Fuels

  • As of Wednesday, May 3, the price of regular unleaded gasoline averaged $3.40 across Iowa according to AAA. 
    • Prices fell 7 cents from last week’s price and are 50 cents lower than one year ago. 
    • The national average on Wednesday was $3.59, down 5 cents from last week’s price.
  • Retail diesel prices in Iowa fell 5 cents this week with a statewide average of $3.86. 
    • One year ago, diesel prices averaged $5.24 in Iowa. 
    • The current Iowa diesel price is 25 cents less than the national average of $4.11.
  • Wholesale ethanol held steady and is currently priced at $2.16.
  • The current Des Moines Terminal/Rack Prices are $2.29 for U87-E10, $2.70 for Unleaded 87 (clear), $2.44 for ULSD#2, $2.95 for ULSD#1, and $2.47 per gallon for E-70 prices.

Heating Fuels

  • Natural gas prices fell 21 cents at the Henry Hub reporting site and are currently priced at $2.13/MMbtu.