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.