DES MOINES – The price of retail gasoline in Iowa rose $.09, closing the week at $2.25 per gallon.  The price of Iowa diesel rose $.07, closing at $2.36 per gallon.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.41 per barrel over last week, and is currently priced at $46.74.

Brent crude oil fell $.33, and is currently priced at $48.96.

One year ago WTI crude sold for $38.24 and Brent crude was at $41.59.

Motor Fuels

As of Tuesday, August 23rd, the price of regular unleaded gasoline averaged $2.25 across Iowa according to AAA.  This is $.09 higher than one week ago and $.41 lower than one year ago.  The national average on Tuesday was $2.19, which is $.06 higher than last week’s price. 

Retail diesel fuel prices in Iowa were up $.07 with a statewide average of $2.36.   One year ago diesel prices averaged $2.50 in Iowa.   The current Iowa diesel average is $.02 higher than the national average of $2.34.

Wholesale ethanol prices were $.02 higher this week, closing at $1.45. 

The current Des Moines Terminal/Rack Prices are $1.54 for U87-E10, $1.81 for Unleaded 87 (clear), ULSD#2 is at $1.63, ULSD#1 is at $1.79, and E-70 is priced at $1.62 per gallon.

Heating Fuels

Natural Gas prices held steady at the Henry Hub reporting site and ended the week at $2.71 / MMbtu.