Week of December 2 fuel and energy price update

Week of December 2 fuel and energy price update

The price of natural gas fell $.12 this week, closing at $2.39 per MMbtu.

Crude Oil Summary

  • The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.36 per barrel over last week, currently priced at $58.24.
  • Brent crude oil fell $.79 and is currently priced at $63.07.
  • One year ago, WTI crude sold for $53.25 and Brent crude was at $61.22.

Motor Fuels

  • As of Tuesday, December 3, the price of regular unleaded gasoline averaged $2.38 across Iowa according to AAA.
    • Prices fell $.01 from last week’s price and $.20 higher than one year ago.
    • The national average on Tuesday was $2.60, up $.01 from last week’s price.
  • Retail diesel prices in Iowa remained steady this week with a statewide average of $2.86.
    • One year ago, diesel prices averaged $2.98 in Iowa.
    • The current Iowa diesel price is $.15 less than the national average of $3.01.
  • Wholesale ethanol prices decreased $.01 from last week’s price, currently at $1.36.
  • The current Des Moines Terminal/Rack Prices are $1.61 for U87-E10, $1.70 for Unleaded 87 (clear), ULSD#2 is at $1.92, ULSD#1 is at $2.33, and E-70 is priced at $1.64 per gallon.

Heating Fuels

  • Propane prices remained steady for a statewide average of $1.50 per gallon.  Home heating oil prices fell $.05, ending with a statewide average of $2.42 per gallon. Natural Gas prices fell $.12 at the Henry Hub reporting site and currently priced at $2.39/MMbtu.

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