Categorized | Local News

Falling Oil Prices Affecting Fuel Prices

Posted on 09 September 2020 by KWBG

DES MOINES, Iowa—The Iowa Department of Agriculture and Land Stewardship has released this weeks fuel prices with the price of Natural Gas leading the way, falling 14 cents this week, currently at $2.39.

Crude Oil Summary

  • The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $3.76 per barrel over last week, currently priced at $38.10.
  • Brent crude oil fell $4.16 and currently priced at $40.70.
  • One year ago, WTI crude sold for $57.85 and Brent crude was at $63.99.

Motor Fuels

  • As of Wednesday, September 9, the price of regular unleaded gasoline averaged $2.10 across Iowa according to AAA.
    • Prices fell 1 cent from last week’s price and 29 cents lower than one year ago.
    • The national average on Wednesday was $2.21, down 2 cents from last week’s price.
  • Retail diesel prices in Iowa fell 1 cent this week with a statewide average of $2.23.
    • One year ago, diesel prices averaged $2.77 in Iowa.
    • The current Iowa diesel price is 19 cents less than the national average of $2.42.
  • Wholesale ethanol prices held steady at $1.31.
  • The current Des Moines Terminal/Rack Prices are $1.18 for U87-E10, $1.29 for Unleaded 87 (clear), ULSD#2 is at $1.17, ULSD#1 is at $1.35, and E-70 priced at $1.41 per gallon.

Heating Fuels

  • Natural Gas prices fell 14 cents at the Henry Hub reporting site and are currently priced at $2.39/MMbtu.
  • Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.

Tips for saving energy on the road or at home are available at energy.gov and fueleconomy.gov.

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