Motor Fuel Prices Still Rising In Iowa

Motor Fuel Prices Still Rising In Iowa

Weekly report by Iowa Department of Ag shows a moderate rise in motor fuel prices across the state this past week; natural gas prices are down a bit.

The Iowa Department of Agriculture issues a weekly fuel price report on its website every Wednesday. Here's the report for Wednesday March 7, 2012.

Moderate rise in motor fuels, natural gas prices down, this past week in Iowa

Crude oil prices were down on the West Texas Intermediate by $1.60 to close at $104.70 per barrel. Unleaded gasoline prices were up again, but increased by only $.01 in Iowa to $3.62 a gallon. The mid-grade blend with 10 percent ethanol increased $.06 to $3.59 per gallon.  A summary of the report follows; the full report is available at the Iowa Department of Ag website which you can click on at the end of this article.

Crude Oil Summary: The price of global crude oil fell this week with West Texas Intermediate (WTI) $1.60 lower per barrel over last week, closing at $104.70.

Brent crude oil rose in price this week, finishing at $125.03 per barrel on Tuesday's close, up $1.01 from the previous week. One year ago WTI crude sold for $105.44 and Brent crude was at $116.58.

Motor Fuels: As of Tuesday, March 6, 2012 the price of regular unleaded gasoline averaged $3.62 across Iowa according to AAA. This is up a penny as compared to last week and up $.12 from one year ago. The national average on Tuesday was $3.76, up $.03 from last week's price. 

Retail diesel fuel prices in Iowa had a $.02 increase on the Tuesday report with a statewide average of $3.93 per gallon. One year ago diesel prices averaged $3.80 in Iowa. The current Iowa diesel average is $.16 per gallon lower than the national average of $4.09.

Wholesale ethanol prices rose $.03 this week, closing at $2.29 a gallon. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.59 per gallon, up $.06 from last week's price and up $.17 from one year ago.

Heating Fuels: This week propane went down a penny with a statewide average of $1.81 per gallon. Home heating oil held steady, ending with a statewide average of $3.60 per gallon. Natural Gas prices in Iowa fell $.13 ending the week at $2.30/MMbtu.

Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov.   Weekly and monthly fuel reports will soon be available on the Departments website at www.iowaagriculture.gov.

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