Here's the weekly price summary for crude oil and the various types of refined fuels used in Iowa. This was reported on September 29, 2011 by the Iowa Department of Agriculture. Weekly and monthly fuel reports will soon be available on the Iowa Department of Ag's website.
The global crude oil price declined for a third consecutive week and the mid-grade 10% ethanol blended fuel fell to $3.38 per gallon, down 12 cents from a week ago. Iowa gasoline prices are currently nearly identical to the national average, but they typically run below the national average.
* Crude oil summary: Global crude oil prices continued to decline for the third consecutive week with West Texas Intermediate (WTI) crude closing at $84.45 per barrel, down another $2.44 relative to last week. Despite the lower near term trend, this still represents an $8.29 per barrel premium over one year ago values for WTI crude.
Brent crude oil fell by $4.85 week over week, ending on Tuesday at $109.54. Brent crude mirrored WTI in trending downward for a third consecutive week.
* Motor fuels: As of Tuesday, September 27, 2011 the price of regular unleaded gasoline averaged $3.48 a gallon across Iowa, according to AAA. Mid-grade 10% ethanol blended fuel averaged $3.38, down 12 cents from just one week ago, and 14 cents from one month ago. Iowa gasoline prices are currently nearly identical to the national average but they typically run below the national average.
Retail diesel fuel prices remained stubbornly high falling only four cents week over week ending at an average of $3.76 throughout the state. Year ago diesel fuel prices averaged $2.92 across Iowa.
* Heating fuels: Unlike crude and refined motor fuels this week, heating fuels seemed to find support in the near term. Natural gas prices in Iowa rose modestly for the week, as they ended the week at $3.92 per MMbtu, an increase of $.10 from the previous week.
Propane prices on average for month of September added a modest $.02 rise since the August report for Iowa. Heating oil prices are unchanged from the August report.
Tips for saving energy on the road or at home are available at www.energysavers.gov and www.fueleconomy.gov. Weekly and monthly fuel reports will soon be available on the Iowa Department of Agriculture's site www.iowaagriculture.gov.