Week of October 24 fuel and energy price update
Author
Published
10/27/2016
DES MOINES – There was a $.55 drop in the price of natural gas this week, closing at $2.67/MMbtu.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $1.95 per barrel over last week, and is currently priced at $49.45.
Brent crude oil fell $2.36, and is currently priced at $50.14.
One year ago WTI crude sold for $43.98 and Brent crude was at $46.57.
Motor Fuels
As of Tuesday, October 25th, the price of regular unleaded gasoline averaged $2.19 across Iowa according to AAA. This is a penny lower than one week ago and $.20 lower than one year ago. The national average on Tuesday was $2.23, down a penny from last week’s price.
Retail diesel fuel prices in Iowa held steady at last week’s price with a statewide average of $2.44. One year ago diesel prices averaged $2.49 in Iowa. The current Iowa diesel average is $.02 higher than the national average of $2.42.
Wholesale ethanol prices held steady at last week’s price, closing at $1.60.
The current Des Moines Terminal/Rack Prices are $1.41 for U87-E10, $1.66 for Unleaded 87 (clear), ULSD#2 is at $1.62, ULSD#1 is at $1.82, and E-70 is priced at $1.66 per gallon.
Heating Fuels
Propane prices were the same as last week’s report, with a statewide average of $1.03 per gallon. Home heating oil fell $.03 from last week, ending with a statewide average of $2.02. Natural Gas prices fell $.55 at the Henry Hub reporting site and ended the week at $2.67 / MMbtu.
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