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Week of May 3 fuel and energy price update courtesy of the Iowa Department of Agriculture

Week of May 3 fuel and energy price update courtesy of the Iowa Department of Agriculture

Wholesale ethanol rose 11 cents and is currently priced at $2.44.

Crude Oil Summary

  • The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.10 per barrel over last week, currently priced at $65.37.
  • Brent crude oil rose $1.03 and is currently priced at $68.68.
  • One year ago, WTI crude sold for $23.61 and Brent crude was at $29.46.

Motor Fuels

  • As of Wednesday, May 5, the price of regular unleaded gasoline averaged $2.80 across Iowa according to AAA.
    • Prices were up 1 cent from last week’s price and $1.22 higher than one year ago.
    • The national average on Wednesday was $2.93, up 4 cents from last week’s price.
  • Retail diesel prices in Iowa rose 1 cent this week with a statewide average of $3.02.
    • One year ago, diesel prices averaged $2.17 in Iowa.
    • The current Iowa diesel price is 7 cents less than the national average of $3.09.
  • Wholesale ethanol rose 11 cents and is currently priced at $2.44.
  • The current Des Moines Terminal/Rack Prices are $2.07 for U87-E10, $2.28 for Unleaded 87 (clear), $2.12 for ULSD#2, $2.28 for ULSD#1, and $2.42 per gallon for E-70 prices.

Heating Fuels

  • Natural gas prices fell 2 cents at the Henry Hub reporting site and are currently priced at $2.94/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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