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.