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Moderate Decline in Retail Gasoline Prices
Iowa Ag Connection - 12/07/2017

The cost of retail gasoline in Iowa dropped $.03 this week, closing at $2.46 per gallon. Nationally, the price of retail gasoline dropped $.02, closing at $2.48 per gallon.

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $1.15 per barrel over last week, and is currently priced at $56.33.

Brent crude oil fell $1.63 and is currently priced at $61.57.

One year ago WTI crude sold for $50.93 and Brent crude was at $52.31.

As of Tuesday, the price of regular unleaded gasoline averaged $2.46 across Iowa according to AAA. This is down $.03 from last week and $.32 higher than one year ago. The national average on Tuesday was $2.48, down $.02 from last week's price.

Retail diesel fuel prices in Iowa held steady at last week's price with a statewide average of $2.82. One year ago diesel prices averaged $2.38 in Iowa. The current Iowa diesel average is $.02 lower than the national average of $2.84.

Wholesale ethanol prices were $.04 lower than last week's price, currently at $1.32.

The current Des Moines Terminal/Rack Prices are $1.64 for U87-E10, $1.83 for Unleaded 87 (clear), ULSD#2 is at $1.93, ULSD#1 is at $2.15, and E-70 is priced at $1.53 per gallon.

Propane prices are steady at last week's prices for a statewide average of $1.46 per gallon. Home heating oil prices fell $.03 from last week's figures, ending with a statewide average of $2.33. Natural Gas prices fell $.05 at the Henry Hub reporting site and ended the week at $2.86/MMbtu.

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