DES MOINES, Iowa (May 29, 2024) – The price of regular unleaded gasoline fell 3 cents, averaging $3.27 across Iowa according to AAA. 

Crude Oil Summary

  • The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.21 per barrel over last week, currently priced at $79.75.
  • Brent crude oil rose by $2.32 and is currently priced at $84.14.
  • One year ago, WTI crude sold for $69.46 and Brent crude was at $73.38.

 Motor Fuels

  • As of Wednesday, the price of regular unleaded gasoline averaged $3.27 across Iowa according to AAA. 
    • Prices fell 3 cents from last week’s price and are down 11 cents from a year ago. 
    • The national average on Wednesday was $3.58, down 3 cents from last week’s price.
  • Retail diesel prices in Iowa fell 2 cents this week with a statewide average of $3.58. 
    • One year ago, diesel prices averaged $3.70 in Iowa. 
    • The current Iowa diesel price is 30 cents lower than the national average of $3.88.
  • Wholesale ethanol held steady and is currently priced at $2.16.
  • The current Des Moines Terminal/Rack Prices are $2.26 for U87-E10, $2.58 for Unleaded 87 (clear), $2.43 for ULSD#2, $2.67 for ULSD#1, and $2.05 per gallon for E-70 prices.

 Heating Fuels

  • Natural gas prices rose 2 cents at the Henry Hub reporting site and are currently priced at $2.71/MMbtu.
  • Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.