Week of January 1 fuel and energy price update
Author
Published
1/4/2018
DES MOINES – The price of natural gas is on the rise, moving up $.31, closing out at $3.01/MMbtu.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.12 per barrel over last week, and is currently priced at $61.71.
Brent crude oil rose $1.39 and is currently priced at $67.70.
One year ago WTI crude sold for $53.26 and Brent crude was at $54.57.
Motor Fuels
As of Wednesday, January 3rd, the price of regular unleaded gasoline averaged $2.41 across Iowa according to AAA. This is up $.05 from last week and $.06 higher than one year ago. The national average on Wednesday was $2.49, up $.04 from last week’s price.
Retail diesel fuel prices in Iowa rose $.05 from last week’s price with a statewide average of $2.87. One year ago diesel prices averaged $2.49 in Iowa. The current Iowa diesel average is $.02 lower than the national average of $2.89.
Wholesale ethanol prices were a penny higher than last week’s price, currently at $1.34.
The current Des Moines Terminal/Rack Prices are $1.70 for U87-E10, $1.91 for Unleaded 87 (clear), ULSD#2 is at $2.06, ULSD#1 is at $2.31, and E-70 is priced at $1.51 per gallon.
Heating Fuels
Propane prices were $.02 higher than last week’s price for a statewide average of $1.49 per gallon. Home heating oil prices rose $.02 from last week’s figures, ending with a statewide average of $2.41. Natural Gas prices rose $.31 at the Henry Hub reporting site and ended the week at $3.01/ MMbtu.
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