Week of January 15 fuel and energy price update

Week of January 15 fuel and energy price update

DES MOINES – The price of natural gas rose $.35 this week, closing at $3.25/ MMbtu.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.49 per barrel over last week, and is currently priced at $63.99.

Brent crude oil rose $.29 and is currently priced at $69.42.

One year ago WTI crude sold for $52.48 and Brent crude was at $54.68.

Motor Fuels

As of Tuesday, January 16th, the price of regular unleaded gasoline averaged $2.53 across Iowa according to AAA.  This is up $.08 from last week and $.16 higher than one year ago.  The national average on Tuesday was $2.53, up $.04 from last week’s price. 

Retail diesel fuel prices in Iowa rose $.04 from last week’s price with a statewide average of $2.93.   One year ago diesel prices averaged $2.49 in Iowa.   The current Iowa diesel average is a penny lower than the national average of $2.94.

Wholesale ethanol prices were $.06 higher than last week’s price, currently at $1.39. 

The current Des Moines Terminal/Rack Prices are $1.81 for U87-E10, $2.08 for Unleaded 87 (clear), ULSD#2 is at $2.11, ULSD#1 is at $2.48, and E-70 is priced at $1.57 per gallon.

Heating Fuels

Propane prices were a penny higher than last week’s price for a statewide average of $1.51 per gallon.  Home heating oil prices rose $.04 from last week’s figures, ending with a statewide average of $2.47.  Natural Gas prices rose $.35 at the Henry Hub reporting site and ended the week at $3.25/ MMbtu.

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