Crude Oil Prices on the Rise

DES MOINES, Iowa (January 10, 2019) – Crude oil on the West Texas Intermediate rose $5.85 this week, currently priced at $52.05. Brent crude oil rose $6.32, currently priced at $61.09 per barrel.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $5.85 per barrel over last week, currently priced at $52.05. Brent crude oil rose $6.32, and it is currently priced at $61.09. One year ago, WTI crude sold for $62.96 and Brent crude was at $69.08.

Motor Fuels

As of Tuesday, January 8, the price of regular unleaded gasoline averaged $1.98 across Iowa according to AAA. This is a penny higher than last week and $.46 lower than one year ago. The national average on Tuesday was $2.23, down $.02 from last week’s price.

Retail diesel fuel prices in Iowa were $.03 lower than last week’s price with a statewide average of $2.71. One year ago, diesel prices averaged $2.89 in Iowa. The current Iowa diesel price is $.24 less than the national average of $2.95.

Wholesale ethanol prices held steady at last week’s price, currently at $1.28.

The current Des Moines Terminal/Rack Prices are $1.35 for U87-E10, $1.46 for Unleaded 87 (clear), ULSD#2 is at $1.80, ULSD#1 is at $2.11, and E-70 is priced at $1.39 per gallon.

Heating Fuels

Propane prices were the same as last week for a statewide average of $1.33 per gallon. Home heating oil was up $.02 from last week’s figures, ending with a statewide average of $2.16. Natural Gas prices rose $.07 at the Henry Hub reporting site and currently priced at $2.98/MMbtu.

 

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

Fuel Report 1-9-2019

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About the Iowa Department of Agriculture and Land Stewardship

Led by Secretary Mike Naig, the Department of Agriculture and Land Stewardship serves the rural and urban residents that call Iowa home. Through its 14 diverse bureaus, the Department ensures animal health, food safety and consumer protection. It also promotes conservation efforts to preserve our land and enhance water quality for the next generation. Learn more at iowaagriculture.gov.

Media Contact:
Don McDowell
Communications Director
515-281-3375
Don.McDowell@IowaAgriculture.gov