DES MOINES, Iowa — The average price of regular unleaded gasoline in Iowa continued to trend downward this week, falling four cents to $2.47 per gallon, according to the latest Weekly Fuel Report from AAA.
The current statewide average is 43 cents lower than this time last year. Nationally, the average price of regular unleaded gasoline stood at $2.83 on Wednesday, down one cent from last week.
Crude oil prices also declined over the past week. West Texas Intermediate crude oil fell $1.23 per barrel and is currently priced at $60.42. Brent crude dropped $1.15, bringing its price to $64.92 per barrel. One year ago, WTI crude sold for $76.79 per barrel, while Brent crude averaged $80.57.
Diesel fuel prices moved higher in Iowa this week, rising 12 cents to a statewide average of $3.32 per gallon. Despite the increase, diesel prices remain 13 cents lower than a year ago, when the statewide average was $3.45. Iowa’s diesel price is also 21 cents below the national average of $3.53.
At fuel terminals in Des Moines, rack prices were reported at $1.67 per gallon for U87-E10, $1.89 for unleaded 87 clear, $2.21 for ultra-low sulfur diesel No. 2, $2.51 for ULSD No. 1, and $1.74 per gallon for E-70.
Heating fuel prices showed mixed movement. Natural gas prices rose $1.78 at the Henry Hub reporting site and are currently priced at $4.87 per million British thermal units. Propane prices averaged $1.57 per gallon across Iowa, while home heating oil had a statewide average of $2.75 per gallon.
State officials encourage Iowans to remain mindful of energy usage and note that tips for saving fuel and energy at home or on the road are available through federal resources such as energy.gov and fueleconomy.gov.
The Weekly Fuel Report is compiled by the Iowa Department of Agriculture and Land Stewardship, which monitors fuel prices and market trends statewide.