Week of February 26 fuel and energy price update

Week of February 26 fuel and energy price update

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.

Motor Fuels

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.

Heating Fuels

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. 

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