Week of March 5 fuel and energy price update

Week of March 5 fuel and energy price update

DES MOINES – The price of Brent crude oil fell $2.04 per gallon, closing at $64.47 this week.

Crude Oil Summary

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $1.64 per barrel over last week, and is currently priced at $61.27.

Brent crude oil fell $2.04 and is currently priced at $64.47.

One year ago WTI crude sold for $53.14 and Brent crude was at $54.61.

Motor Fuels

As of Tuesday, March 6th, the price of regular unleaded gasoline averaged $2.49 across Iowa according to AAA.  This is down $.02 from last week and $.17 higher than one year ago.  The national average on Tuesday was $2.53, up $.01 from last week’s price. 

Retail diesel fuel prices in Iowa fell a penny from last week’s price with a statewide average of $2.94.   One year ago diesel prices averaged $2.47 in Iowa.   The current Iowa diesel price is $.01 less than the national average of $2.95.

Wholesale ethanol prices were $.02 higher than last week’s price, currently at $1.51. 

The current Des Moines Terminal/Rack Prices are $1.81 for U87-E10, $2.01 for Unleaded 87 (clear), ULSD#2 is at $1.99, ULSD#1 is at $2.12, and E-70 is priced at $1.62 per gallon.

Heating Fuels

Propane prices dropped a penny for a statewide average of $1.46 per gallon.  Home heating oil prices fell $.03 from last week’s figures, ending with a statewide average of $2.40.  Natural Gas prices rose $.14 at the Henry Hub reporting site and ended the week at $2.73/ MMbtu. 

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