DES MOINES – The price of retail gasoline in Iowa rose $.07 this week, closing at $2.53 per gallon.  The price of Iowa diesel rose $.04, closing at $2.78 per gallon.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.36 per barrel over last week, and is currently priced at $56.59.

Brent crude oil rose $2.48 and is currently priced at $63.13.

One year ago WTI crude sold for $44.98 and Brent crude was at $43.47.

Motor Fuels

As of Tuesday, November 7th, the price of regular unleaded gasoline averaged $2.53 across Iowa according to AAA.  This is up $.07 from last week and $.40 higher than one year ago.  The national average on Tuesday was $2.55, up $.07 from last week’s price. 

Retail diesel fuel prices in Iowa were up $.04 from last week’s price with a statewide average of $2.78.   One year ago diesel prices averaged $2.41 in Iowa.   The current Iowa diesel average is $.02 lower than the national average of $2.80.

Wholesale ethanol prices were $.05 higher than last week’s price, currently at $1.49. 

The current Des Moines Terminal/Rack Prices are $1.84 for U87-E10, $2.08 for Unleaded 87 (clear), ULSD#2 is at $2.05, ULSD#1 is at $2.29, and E-70 is priced at $1.67 per gallon.

Heating Fuels

Propane prices were up $.02 from last week’s prices for a statewide average of $1.41 per gallon.  Home heating oil prices rose $.07 from last week’s figures, ending with a statewide average of $2.39.  Natural Gas prices are up $.31 at the Henry Hub reporting site and ended the week at $3.08/ MMbtu.