Week of August 12 fuel and energy price update

Week of August 12 fuel and energy price update

DES MOINES – The price of wholesale ethanol dropped $.16 this week, closing at $1.26 per gallon.

Crude Oil Summary

  • The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $3.37 per barrel over last week, currently priced at $55.07.
  • Brent crude oil rose $2.27, and is currently priced at $59.31.
  • One year ago, WTI crude sold for $67.04 and Brent crude was at $70.77.

Motor Fuels

  • As of Tuesday, August 13, the price of regular unleaded gasoline averaged $2.49 across Iowa according to AAA.
    • This is $.06 lower than last week and $.23 lower than one year ago.
    • The national average on Tuesday was $2.64, $.05 lower than last week’s price.
  • Retail diesel prices in Iowa were $.03 lower than last week’s price with a statewide average of $2.82.
    • One year ago, diesel prices averaged $3.08 in Iowa.
    • The current Iowa diesel price is $.14 less than the national average of $2.96
  • Wholesale ethanol prices fell $.16 from last week’s price, currently at $1.26.
  • The current Des Moines Terminal/Rack Prices are $1.71 for U87-E10, $1.90 for Unleaded 87 (clear), ULSD#2 is at $1.90, ULSD#1 is at $2.19, and E-70 is priced at $1.57 per gallon.

Heating Fuels

  • Natural Gas prices rose $.03 at the Henry Hub reporting site and is currently priced at $2.15/MMbtu.
  • Continuing throughout the summer months, we will only report retail-heating oil and propane prices in Iowa once a month.

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