Week of October 3 Fuel and Energy Price Update
Author
Published
10/6/2016
DES MOINES – Brent crude oil rose $3.74 this week, currently priced at $51.72 per barrel. Global crude oil also was on the rise – up $2.83 per barrel and currently priced at $49.23.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.83 per barrel over last week, and is currently priced at $49.23.
Brent crude oil rose $3.74, and is currently priced at $51.72.
One year ago WTI crude sold for $46.26 and Brent crude was at $49.45.
Motor Fuels
As of Tuesday, October 4th, the price of regular unleaded gasoline averaged $2.20 across Iowa according to AAA. This is a penny higher than one week ago and $.13 lower than one year ago. The national average on Tuesday was $2.23, up a penny from last week’s price.
Retail diesel fuel prices in Iowa rose one cent from last week with a statewide average of $2.37. One year ago diesel prices averaged $2.44 in Iowa. The current Iowa diesel average is the same as the national average of $2.37.
Wholesale ethanol prices were $.02 higher than last week’s price, closing at $1.52.
The current Des Moines Terminal/Rack Prices are $1.50 for U87-E10, $1.76 for Unleaded 87 (clear), ULSD#2 is at $1.69, ULSD#1 is at $1.88, and E-70 is priced at $1.68 per gallon.
Heating Fuels
Propane prices were up $.02 from the September 16, 2016, report, with a statewide average of $.97 per gallon. Home heating oil rose $.11 from the 9-16-16 report, ending with a statewide average of $2.00. Natural Gas prices fell $.20 at the Henry Hub reporting site and ended the week at $2.83 / MMbtu.
Want more news on this topic? Farm Bureau members may subscribe for a free email news service, featuring the farm and rural topics that interest them most!