DES MOINES, Iowa (May 22, 2024) – The price of regular unleaded gasoline rose 6 cents, averaging $3.30 across Iowa according to AAA.

Crude Oil Summary

  • The price of global crude oil fell this week on the West Texas Intermediate (WTI) by 53 cents per barrel over last week, currently priced at $77.54.
  • Brent crude oil fell by 53 cents and is currently priced at $81.82.
  • One year ago, WTI crude sold for $71.99 and Brent crude was at $75.77.

Motor Fuels

  • As of Wednesday, the price of regular unleaded gasoline averaged $3.30 across Iowa according to AAA. 
    • Prices rose 6 cents from last week’s price and are down 10 cents from a year ago. 
    • The national average on Wednesday was $3.61, unchanged from last week’s price.
  • Retail diesel prices in Iowa fell 6 cents this week with a statewide average of $3.60. 
    • One year ago, diesel prices averaged $3.74 in Iowa. 
    • The current Iowa diesel price is 31 cents lower than the national average of $3.91.
  • Wholesale ethanol held steady and is currently priced at $2.16.
  • The current Des Moines Terminal/Rack Prices are $2.29 for U87-E10, $2.60 for Unleaded 87 (clear), $2.41 for ULSD#2, $2.64 for ULSD#1, and $2.03 per gallon for E-70 prices.

Heating Fuels

  • Natural gas prices rose 30 cents at the Henry Hub reporting site and are currently priced at $2.69/MMbtu.
  • Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.