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Retail Gasoline Prices Down
Iowa Ag Connection - 06/14/2018

The price of retail gasoline in Iowa dropped $.04 per gallon, ending the week at $2.79. Nationally, retail gasoline prices dropped $.03, closing at $2.91.

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $1.63 per barrel over last week, and is currently priced at $66.71.

Brent crude oil rose $.88 and is currently priced at $76.69.

One year ago WTI crude sold for $46.46 and Brent crude was at $46.95.

As of Tuesday, the price of regular unleaded gasoline averaged $2.79 across Iowa according to AAA. This is down $.04 from last week and $.54 higher than one year ago. The national average on Tuesday was $2.91, down $.03 from last week's price.

Retail diesel fuel prices in Iowa fell a penny from last week's price with a statewide average of $3.16. One year ago diesel prices averaged $2.44 in Iowa. The current Iowa diesel price is $.04 less than the national average of $3.20.

Wholesale ethanol prices were unchanged from last week's price, currently at $1.44.

The current Des Moines Terminal/Rack Prices are $1.99 for U87-E10, $2.20 for Unleaded 87 (clear), ULSD#2 is at $2.25, ULSD#1 is at $2.42, and E-70 is priced at $1.70 per gallon.

Natural Gas prices rose $.05 at the Henry Hub reporting site and ended the week at $2.92/MMbtu.

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