DES MOINES – The price of retail gasoline in Iowa dropped $.05 this week, closing at $2.54 per gallon.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.49 per barrel over last week, and is currently priced at $61.48.

Brent crude oil rose $1.38 and is currently priced at $65.09.

One year ago WTI crude sold for $54.06 and Brent crude was at $56.34.

Motor Fuels

As of Tuesday, February 20th, the price of regular unleaded gasoline averaged $2.54 across Iowa according to AAA.  This is down $.05 from last week and $.23 higher than one year ago.  The national average on Tuesday was $2.53, down $.03 from last week’s price. 

Retail diesel fuel prices in Iowa fell $.02 from last week’s price with a statewide average of $2.97.   One year ago diesel prices averaged $2.47 in Iowa.   The current Iowa diesel average is a penny higher than the national average of $2.96.

Wholesale ethanol prices were $.02 higher than last week’s price, currently at $1.48. 

The current Des Moines Terminal/Rack Prices are $1.75 for U87-E10, $1.98 for Unleaded 87 (clear), ULSD#2 is at $2.01, ULSD#1 is at $2.29, and E-70 is priced at $1.61 per gallon.

Heating Fuels

Propane prices held steady at last week’s price for a statewide average of $1.48 per gallon.  Home heating oil prices dropped $.05 from last week’s figures, ending with a statewide average of $2.40.  Natural Gas prices rose $.04 at the Henry Hub reporting site and ended the week at $2.61/ MMbtu.