Week of May 11 fuel and energy price update courtesy of the Iowa Department of Agriculture
Author
Published
5/14/2020
The average price of gasoline in Iowa rose 17 cents this week, currently at $1.76 per gallon.
Crude Oil Summary
- The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.76 per barrel over last week, currently priced at $26.37.
- Brent crude oil rose $.96 and currently priced at $30.42.
- One year ago, WTI crude sold for $61.78 and Brent crude was at $72.53.
Motor Fuels
- As of Thursday, May 14, the price of regular unleaded gasoline averaged $1.76 across Iowa according to AAA.
- Prices rose $.17 from last week’s price and $.92 lower than one year ago.
- The national average on Wednesday was $1.87 up $.07 from last week’s price.
- Retail diesel prices in Iowa fell $.02 this week with a statewide average of $2.15.
- One year ago, diesel prices averaged $3.00 in Iowa.
- The current Iowa diesel price is $.27 less than the national average of $2.42.
- Wholesale ethanol prices rose $.01, currently at $1.07.
- The current Des Moines Terminal/Rack Prices are $0.85 for U87-E10, $0.96 for Unleaded 87 (clear), ULSD#2 is at $.87, ULSD#1 is at $1.02, and E-70 priced at $1.11 per gallon.
Heating Fuels
- Natural Gas prices fell $.24 at the Henry Hub reporting site and currently priced at $1.70/MMbtu.
- Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.
Want more news on this topic? Farm Bureau members may subscribe for a free email news service, featuring the farm and rural topics that interest them most!