Week of May 21 fuel and energy price update
Author
Published
5/23/2018
DES MOINES – The price of retail gasoline in Iowa rose $.05 per gallon, closing the week at $2.84. Nationally, retail gasoline rose $.06, currently priced at $2.95 per gallon.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.41 per barrel over last week, and is currently priced at $71.78.
Brent crude oil rose $.58 and is currently priced at $79.68.
One year ago WTI crude sold for $51.47 and Brent crude was at $53.19.
Motor Fuels
As of Tuesday, May 22, the price of regular unleaded gasoline averaged $2.84 across Iowa according to AAA. This is up $.05 from last week and $.58 higher than one year ago. The national average on Tuesday was $2.95, up $.06 from last week’s price.
Retail diesel fuel prices in Iowa rose $.04 from last week’s price with a statewide average of $3.15. One year ago diesel prices averaged $2.46 in Iowa. The current Iowa diesel price is $.05 less than the national average of $3.20.
Wholesale ethanol prices rose $.04 from last week’s price, currently at $1.52.
The current Des Moines Terminal/Rack Prices are $2.16 for U87-E10, $2.39 for Unleaded 87 (clear), ULSD#2 is at $2.36, ULSD#1 is at $2.53, and E-70 is priced at $1.76 per gallon.
Heating Fuels
Propane prices were $.03 lower than last month’s prices for a statewide average of $1.29 per gallon. Home heating oil rose $.13 from last month’s figures, ending with a statewide average of $2.70. Natural Gas prices fell $.05 at the Henry Hub reporting site and ended the week at $2.78/MMbtu.
Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.
Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov
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