Weekly Fuel Report: Gasoline Trend Lower This Week

(Des Moines) According to AAA, the price of regular unleaded gasoline fell three cents to an average of $3.11 across Iowa, up four cents from one year ago. The national average on Wednesday was $3.32, down four cents from last week’s price.

This week, the price of global crude oil fell on the West Texas Intermediate (WTI) by $5.38 per barrel to $69.88. Brent crude oil fell by $5.82 to $73.38. One year ago, WTI crude sold for $86.69, and Brent crude was at $90.42.

Retail diesel prices in Iowa fell 2 cents this week, with a statewide average of $3.44. One year ago, diesel prices averaged $4.27 in Iowa. The current Iowa diesel price is 25 cents lower than the national average of $3.69.

Wholesale ethanol held steady and is currently priced at $2.16.

Natural gas prices rose seven cents at the Henry Hub reporting site and are currently priced at $2.19.

Throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.