Natural Gas Prices Continue to Fall

Natural gas prices fell $.18 this week, closing at $2.68/MMbtu.

Crude Oil Summary

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $.01 per barrel over last week, currently priced at $53.97. Brent crude oil rose $.57, and it is currently priced at $62.52. One year ago, WTI crude sold for $63.39 and Brent crude was at $66.75.

Motor Fuels

As of Tuesday, February 5, the price of regular unleaded gasoline averaged $2.08 across Iowa according to AAA. This is $.01 higher than last week and $.55 lower than one year ago. The national average on Tuesday was $2.28, up $.02 from last week’s price.

Retail diesel fuel prices in Iowa held steady at last week’s price with a statewide average of $2.73. One year ago, diesel prices averaged $3.01 in Iowa. The current Iowa diesel price is $.19 less than the national average of $2.92.

Wholesale ethanol prices rose $.04 from last week’s price, currently at $1.31.

The current Des Moines Terminal/Rack Prices are $1.46 for U87-E10, $1.58 for Unleaded 87 (clear), ULSD#2 is at $1.92, ULSD#1 is at $2.17, and E-70 is priced at $1.41 per gallon.

Heating Fuels

Propane prices were the same as last week for a statewide average of $1.32 per gallon. Home heating oil was up $.01 from last week’s figures, ending with a statewide average of $2.25. Natural Gas prices fell $.18 at the Henry Hub reporting site and currently priced at $2.68/MMbtu.

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