The price of retail diesel in Iowa rose $.07, ending the week at $3.11 per gallon. Nationally, diesel prices rose $.06, closing at $3.15 per gallon.
Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.10 per barrel over last week, and is currently priced at $71.37.
Brent crude oil rose $1.93 and is currently priced at $79.10.
One year ago WTI crude sold for $48.66 and Brent crude was at $51.21.
As of Tuesday, May 15, the price of regular unleaded gasoline averaged $2.79 across Iowa according to AAA. This is up $.08 from last week and $.54 higher than one year ago. The national average on Tuesday was $2.89, up $.06 from last week’s price.
Retail diesel fuel prices in Iowa rose $.07 from last week’s price with a statewide average of $3.11. One year ago diesel prices averaged $2.46 in Iowa. The current Iowa diesel price is $.04 less than the national average of $3.15.
Wholesale ethanol prices rose a penny from last week’s price, currently at $1.48.
The current Des Moines Terminal/Rack Prices are $2.09 for U87-E10, $2.32 for Unleaded 87 (clear), ULSD#2 is at $2.34, ULSD#1 is at $2.51, and E-70 is priced at $1.73 per gallon.
Natural Gas prices rose $.11 at the Henry Hub reporting site and ended the week at $2.83/MMbtu.
Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.