Week of February 5 fuel and energy price update

Week of February 5 fuel and energy price update

DES MOINES – The price of natural gas dropped $.81 this week, closing at $2.75/MMbtu.

Crude Oil Summary

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $2.61 per barrel over last week, and is currently priced at $61.87.

Brent crude oil fell $3.24 and is currently priced at $65.61.

One year ago WTI crude sold for $52.17 and Brent crude was at $53.79.

Motor Fuels

As of Tuesday, February 6th, the price of regular unleaded gasoline averaged $2.63 across Iowa according to AAA.  This is up $.02 from last week and $.33 higher than one year ago.  The national average on Tuesday was $2.61, up $.02 from last week’s price. 

Retail diesel fuel prices in Iowa rose 2 cents from last week’s price with a statewide average of $3.00.   One year ago diesel prices averaged $2.47 in Iowa.   The current Iowa diesel average is equal to the national average of $3.00.

Wholesale ethanol prices were $.03 higher than last week’s price, currently at $1.41. 

The current Des Moines Terminal/Rack Prices are $1.83 for U87-E10, $2.08 for Unleaded 87 (clear), ULSD#2 is at $2.07, ULSD#1 is at $2.40, and E-70 is priced at $1.63 per gallon.

Heating Fuels

Propane prices held steady at last week’s price for a statewide average of $1.50 per gallon.  Home heating oil prices dropped a penny from last week’s figures, ending with a statewide average of $2.51.  Natural Gas prices fell $.81 at the Henry Hub reporting site and ended the week at $2.75/ MMbtu. 

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