Regular unleaded gasoline prices in Iowa were down 4 cents this week, averaging $3.13 across Iowa.  Crude Oil Summary

  • The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $9.72 per barrel over last week, currently priced at $68.45.
  • Brent crude oil fell $10.20 and currently priced at $71.64.
  • One year ago, WTI crude sold for $44.55 and Brent crude was at $47.03.

Motor Fuels

  • As of Wednesday, December 1, the price of regular unleaded gasoline averaged $3.13 across Iowa according to AAA. 
    • Prices fell 4 cents from last week’s price and $1.26 higher than one year ago. 
    • The national average on Wednesday was $3.39, down 1 cent from last week’s price.
  • Retail diesel prices in Iowa were down 4 cents this week with a statewide average of $3.40. 
    • One year ago, diesel prices averaged $2.26 in Iowa. 
    • The current Iowa diesel price is 24 cents less than the national average of $3.64.
  • Wholesale ethanol was steady and is currently priced at $2.21.
  • The current Des Moines Terminal/Rack Prices are $2.03 for U87-E10, $2.03 for Unleaded 87 (clear), $2.11 for ULSD#2, $2.33 for ULSD#1, and $3.09 per gallon for E-70 prices.

Heating Fuels

  • Propane prices fell 1 cent with a statewide average of $1.95 per gallon.
  • Home heating oil prices fell 3 cents, with a statewide average of $2.94 per gallon.
  • Natural gas prices fell 79 cents at the Henry Hub reporting site and are currently priced at $4.35/MMbtu.