DES MOINES – The price of retail gasoline in Iowa dropped $.03 this week, closing at $2.51 per gallon.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.43 per barrel over last week, and is currently priced at $62.91.
Brent crude oil rose $1.42 and is currently priced at $66.51.
One year ago WTI crude sold for $53.96 and Brent crude was at $56.53.
As of Tuesday, February 27th, the price of regular unleaded gasoline averaged $2.51 across Iowa according to AAA. This is down $.03 from last week and $.20 higher than one year ago. The national average on Tuesday was $2.52, down $.01 from last week’s price.
Retail diesel fuel prices in Iowa fell $.02 from last week’s price with a statewide average of $2.95. One year ago diesel prices averaged $2.47 in Iowa. The current Iowa diesel price is equal to the national average of $2.95.
Wholesale ethanol prices were $.01 higher than last week’s price, currently at $1.49.
The current Des Moines Terminal/Rack Prices are $1.82 for U87-E10, $2.03 for Unleaded 87 (clear), ULSD#2 is at $2.07, ULSD#1 is at $2.28, and E-70 is priced at $1.63 per gallon.
Propane prices dropped 1 cent for a statewide average of $1.47 per gallon. Home heating oil prices rose $.03 from last week’s figures, ending with a statewide average of $2.43. Natural Gas prices drop $.02 at the Henry Hub reporting site and ended the week at $2.59/ MMbtu.
Want more news on this topic? Iowa Farm Bureau members may subscribe for a free email news service, featuring the farm and rural topics that interest them most!