Week of January 29 fuel and energy price report

Week of January 29 fuel and energy price report

DES MOINES – The price of retail gasoline in Iowa rose $.06 this week, closing at $2.61 per gallon.  U.S. average retail gasoline also rose $.04, closing at $2.59 per gallon.

Crude Oil Summary

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $0.57 per barrel over last week, and is currently priced at $64.48.

Brent crude oil fell $1.20 and is currently priced at $68.85.

One year ago WTI crude sold for $53.28 and Brent crude was at $56.19.

Motor Fuels

As of Tuesday, January 30th, the price of regular unleaded gasoline averaged $2.61 across Iowa according to AAA.  This is up $.06 from last week and $.30 higher than one year ago.  The national average on Tuesday was $2.59, up $.04 from last week’s price. 

Retail diesel fuel prices in Iowa rose 4 cents from last week’s price with a statewide average of $2.98.   One year ago diesel prices averaged $2.47 in Iowa.   The current Iowa diesel average is equal to the national average of $2.98.

Wholesale ethanol prices were $.02 higher than last week’s price, currently at $1.39. 

The current Des Moines Terminal/Rack Prices are $1.93 for U87-E10, $2.19 for Unleaded 87 (clear), ULSD#2 is at $2.17, ULSD#1 is at $2.53, and E-70 is priced at $1.62 per gallon.

Heating Fuels

Propane prices were 2 cents lower than last week’s price for a statewide average of $1.50 per gallon.  Home heating oil prices rose $.04 from last week’s figures, ending with a statewide average of $2.52.  Natural Gas prices rose $.20 at the Henry Hub reporting site and ended the week at $3.56/ MMbtu. 

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