The price of propane rose $.03 this week, closing at $1.35/gallon.

Crude Oil Summary

  • The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.49 per barrel over last week, currently priced at $61.47.
  • Brent crude oil rose $1.20 and is currently priced at $67.25.
  • One year ago, WTI crude sold for $49.78 and Brent crude was at $56.91.

Motor Fuels

  • As of Wednesday, January 8, the price of regular unleaded gasoline averaged $2.41 across Iowa according to AAA.
    • Prices rose $.03 from last week’s price and $.44 higher than one year ago.
    • The national average on Thursday was $2.60, up $.01 from last week’s price.
  • Retail diesel prices in Iowa were steady this week with a statewide average of $2.87.
    • One year ago, diesel prices averaged $2.71 in Iowa.
    • The current Iowa diesel price is $.15 less than the national average of $3.02.
  • Wholesale ethanol prices decreased $.04 from last week’s price, currently at $1.35.
  • The current Des Moines Terminal/Rack Prices are $1.72 for U87-E10, $1.86 for Unleaded 87 (clear), ULSD#2 is at $2.04, ULSD#1 is at $2.28, and E-70 is priced at $1.46 per gallon.

Heating Fuels

  • Propane prices rose $.03 for a statewide average of $1.35 per gallon. 
  • Home heating oil prices rose $.01, with a statewide average of $2.46 per gallon.
  • Natural Gas prices rose $.01 at the Henry Hub reporting site and currently priced at $2.13/MMbtu.