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Retail Gasoline Prices Hold Steady
Iowa Ag Connection - 07/12/2018

Retail gasoline prices in Iowa were unchanged from last week, closing at $2.74 per gallon. The National average also held steady, closing at $2.87 per gallon.

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $1.74 per barrel over last week, and is currently priced at $72.40.

Brent crude oil rose $.55 and is currently priced at $76.42.

One year ago WTI crude sold for $45.04 and Brent crude was at $46.68.

As of Tuesday, the price of regular unleaded gasoline averaged $2.74 across Iowa according to AAA. This is the same price as last week and $.56 higher than one year ago. The national average on Tuesday was $2.87, holding steady at last week's price.

Retail diesel fuel prices in Iowa were unchanged from last week's price with a statewide average of $3.10. One year ago diesel prices averaged $2.36 in Iowa. The current Iowa diesel price is $.07 less than the national average of $3.17.

Wholesale ethanol prices were down $.03 from last week's price, currently at $1.39.

The current Des Moines Terminal/Rack Prices are $2.08 for U87-E10, $2.29 for Unleaded 87 (clear), ULSD#2 is at $2.31, ULSD#1 is at $2.48, and E-70 is priced at $1.72 per gallon.

Natural Gas prices fell $.02 at the Henry Hub reporting site and ended the week at $2.84/MMbtu.

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