The price of regular unleaded gasoline fell 4 cents, averaging $3.37 across Iowa according to AAA. 

Crude Oil Summary

  • The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $5.74 per barrel over last week, currently priced at $68.82.
  • Brent crude oil fell $5.59 and is currently priced at $72.84.
  • One year ago, WTI crude sold for $100.28 and Brent crude was at $125.53.

Motor Fuels

  • As of Wednesday, May 31, the price of regular unleaded gasoline averaged $3.37 across Iowa according to AAA. 
    • Prices fell 4 cents from last week’s price and 89 cents lower than one year ago. 
    • The national average on Wednesday was $3.58, up 2 cents from last week’s price.
  • Retail diesel prices in Iowa fell 3 cents this week with a statewide average of $3.70. 
    • One year ago, diesel prices averaged $5.16 in Iowa. 
    • The current Iowa diesel price is 25 cents less than the national average of $3.95.
  • Wholesale ethanol held steady and is currently priced at $2.16.
  • The current Des Moines Terminal/Rack Prices are $2.43 for U87-E10, $2.83 for Unleaded 87 (clear), $2.50 for ULSD#2, $3.04 for ULSD#1, and $2.56 per gallon for E-70 prices.

Heating Fuels

  • Natural gas prices fell 23 cents at the Henry Hub reporting site and are currently priced at $2.31/MMbtu.