DES MOINES, Iowa (Aug. 28, 2024) – The price of regular unleaded gasoline fell 4 cents, averaging $3.14 across Iowa according to AAA.

Crude Oil Summary

  • The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.60 per barrel over last week, currently priced at $75.26.
  • Brent crude oil rose by $2.33 and is currently priced at $79.20.
  • One year ago, WTI crude sold for $78.89 and Brent crude was at $86.37.

Motor Fuels

  • As of Wednesday, the price of regular unleaded gasoline averaged $3.14 across Iowa according to AAA. 
    • Prices fell 4 cents from last week’s price and are down 43 cents from a year ago. 
    • The national average on Wednesday was $3.36, down 3 cents from last week’s price.
  • Retail diesel prices in Iowa fell 3 cents this week with a statewide average of $3.46. 
    • One year ago, diesel prices averaged $4.13 in Iowa. 
    • The current Iowa diesel price is 25 cents lower than the national average of $3.71.
  • Wholesale ethanol held steady and is currently priced at $2.16.
  • The current Des Moines Terminal/Rack Prices are $2.16 for U87-E10, $2.44 for Unleaded 87 (clear), $2.37 for ULSD#2, $2.63 for ULSD#1, and $2.06 per gallon for E-70 prices.

Heating Fuels

  • Natural gas prices rose 7 cents at the Henry Hub reporting site and are currently priced at $2.12/MMbtu.
  • Continuing throughout the summer months, we will only report retail heating oil and propane prices in Iowa once a month.