Week of July 1 fuel and energy price update

Week of July 1 fuel and energy price update

The price of retail gasoline in Iowa rose $.06 this week, closing at $2.59 per gallon. Nationally, retail gasoline rose $.08, priced at $2.76 per gallon.

Crude Oil Summary

  • The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $2.53 per barrel over last week, currently priced at $56.97.
  • Brent crude oil fell $2.81, and it is currently priced at $63.73.
  • One year ago, WTI crude sold for $74.14 and Brent crude was at $75.87.

Motor Fuels

  • As of Wednesday, July 3, the price of regular unleaded gasoline averaged $2.59 across Iowa according to AAA.
    • This is $.06 higher than last week and $.16 lower than one year ago.
    • The national average on Tuesday was $2.76, $.08 higher than last week’s price.
  • Retail diesel fuel prices in Iowa were the same as last week’s price with a statewide average of $2.88.
    • One year ago, diesel prices averaged $3.10 in Iowa.
    • The current Iowa diesel price is $.13 less than the national average of $3.01.
  • Wholesale ethanol prices fell $.02 from last week’s price, currently at $1.58.
  • The current Des Moines Terminal/Rack Prices are $1.82 for U87-E10, $2.03 for Unleaded 87 (clear), ULSD#2 is at $1.94, ULSD#1 is at $2.27, and E-70 is priced at $1.67 per gallon.

??Heating Fuels

  • Natural Gas prices rose $.10 at the Henry Hub reporting site and currently priced at $2.39/MMbtu.
  • Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.

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