Gas Prices Lower This Week

(Des Moines) According to AAA, the price of regular unleaded gasoline fell five cents, averaging $2.96 across Iowa this week. This is 35 cents lower than one year ago. The national average on Wednesday was $3.16, down four cents from last week’s price.

Retail diesel prices in Iowa fell 1 cent this week with a statewide average of $3.43. One year ago, diesel prices averaged $4.62 in Iowa. The current Iowa diesel price is 16 cents lower than the national average of $3.59.

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.83 per barrel over last week, currently priced at $71.32. Brent crude oil rose by $1.35 and is currently priced at $75.58. One year ago, WTI crude was sold for $85.49, and Brent crude was $91.88.

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

Natural gas prices fell 10 cents at the Henry Hub reporting site and are currently at $2.31. Propane prices averaged $1.54 per gallon in Iowa, and home heating oil prices had a statewide average of $2.86 per gallon.