Retail Gasoline Prices Continue Upward Trend

DES MOINES, Iowa (March 27, 2019) – The price of retail gasoline in Iowa rose another $.05 this week, closing at $2.59. Nationally, retail gasoline prices were up $.09, closing at $2.67 per gallon.

Crude Oil Summary
The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $.24 per barrel over last week, currently priced at $59.97.

Brent crude oil rose $.03, and it is currently priced at $68.27.

One year ago, WTI crude sold for $65.25 and Brent crude was at $68.63.

Motor Fuels
As of Tuesday, March 26, the price of regular unleaded gasoline averaged $2.59 across Iowa according to AAA. This is $.05 higher than last week and $.04 higher than one year ago. The national average on Tuesday was $2.67, up $.09 from last week’s price.

Retail diesel fuel prices in Iowa held steady at last week’s price with a statewide average of $2.95. One year ago, diesel prices averaged $2.92 in Iowa. The current Iowa diesel price is $.07 less than the national average of $3.02.

Wholesale ethanol prices fell $.03 from last week’s price, currently at $1.39.

The current Des Moines Terminal/Rack Prices are $1.93 for U87-E10, $2.14 for Unleaded 87 (clear), ULSD#2 is at $2.10, ULSD#1 is at $2.51, and E-70 is priced at $1.66 per gallon.

Heating Fuels
Propane prices were down a penny from 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 $2.46. Natural Gas prices fell $.12 at the Henry Hub reporting site and currently priced at $2.70/MMbtu.

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