Week of January 22 fuel and energy price update

Week of January 22 fuel and energy price update

DES MOINES – The price of retail gasoline in Iowa rose $.02 this week, closing at $2.55 per gallon.  U.S. average retail gasoline also rose $.02, closing at $2.55 per gallon.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.06 per barrel over last week, and is currently priced at $65.05.

Brent crude oil rose $.63 and is currently priced at $70.05.

One year ago WTI crude sold for $53.18 and Brent crude was at $54.70.

Motor Fuels

As of Tuesday, January 23rd, the price of regular unleaded gasoline averaged $2.55 across Iowa according to AAA.  This is up $.02 from last week and $.21 higher than one year ago.  The national average on Tuesday was $2.55, up $.02 from last week’s price. 

Retail diesel fuel prices in Iowa rose a penny from last week’s price with a statewide average of $2.94.   One year ago diesel prices averaged $2.48 in Iowa.   The current Iowa diesel average is a penny lower than the national average of $2.95.

Wholesale ethanol prices were $.02 lower than last week’s price, currently at $1.37. 

The current Des Moines Terminal/Rack Prices are $1.89 for U87-E10, $2.17 for Unleaded 87 (clear), ULSD#2 is at $2.16, ULSD#1 is at $2.51, and E-70 is priced at $1.59 per gallon.

Heating Fuels

Propane prices were a penny higher than last week’s price for a statewide average of $1.52 per gallon.  Home heating oil prices rose $.01 from last week’s figures, ending with a statewide average of $2.48.  Natural Gas prices rose $.11 at the Henry Hub reporting site and ended the week at $3.36/ MMbtu. 

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