DES MOINES – The price of retail gasoline in Iowa dropped $.04 this week, closing at $2.16 per gallon.  National retail gasoline prices dropped $.03, ending the week at $2.25 per gallon.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.44 per barrel over last week, and is currently priced at $44.68.

Brent crude oil was up $1.60 and is currently priced at $47.24.

One year ago WTI crude sold for $47.85 and Brent crude was at $46.29.

Motor Fuels

As of Tuesday, June 27th, the price of regular unleaded gasoline averaged $2.16 across Iowa according to AAA.  This is down $.04 from last week and $.12 lower than one year ago.  The national average on Tuesday was $2.25, down $.03 from last week’s price. 

Retail diesel fuel prices in Iowa were down $.04 with a statewide average of $2.35.   One year ago diesel prices averaged $2.35 in Iowa.   The current Iowa diesel average is $.10 lower than the national average of $2.45.

Wholesale ethanol prices fell $.03 from last week’s price, currently at $1.50. 

The current Des Moines Terminal/Rack Prices are $1.39 for U87-E10, $1.58 for Unleaded 87 (clear), ULSD#2 is at $1.44, ULSD#1 is at $1.61, and E-70 is priced at $1.61 per gallon.

Heating Fuels

Natural Gas prices are up $.11 at the Henry Hub reporting site and ended the week at $2.98/ MMbtu.

Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.