Jump in Heating Oil Prices

DES MOINES, Iowa (February 21, 2019) - Heating oil prices in Iowa rose $.12 this week, closing at $2.40 per gallon.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.80 per barrel over last week, currently priced at $56.92.

Brent crude oil rose $3.55, and it is currently priced at $67.14.

One year ago, WTI crude sold for $61.90 and Brent crude was at $55.25.

Motor Fuels

As of Tuesday, February 19, the price of regular unleaded gasoline averaged $2.24 across Iowa according to AAA. This is $.11 higher than last week and $.30 lower than one year ago. The national average on Tuesday was $2.36, up $.09 from last week’s price.

Retail diesel fuel prices in Iowa rose $.07 from last week’s price with a statewide average of $2.81. One year ago, diesel prices averaged $2.97 in Iowa. The current Iowa diesel price is $.14 less than the national average of $2.95.

Wholesale ethanol prices rose $.01 from last week’s price, currently at $1.34.

The current Des Moines Terminal/Rack Prices are $1.65 for U87-E10, $1.78 for Unleaded 87 (clear), ULSD#2 is at $2.07, ULSD#1 is at $2.43, and E-70 is priced at $1.51 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 $.12 from last week’s figures, ending with a statewide average of $2.40. Natural Gas prices rose $.06 at the Henry Hub reporting site and currently priced at $2.64/MMbtu.

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