Fuel & Energy Price Update (Courtesy of the Iowa Department of Agriculture & Land Stewardship): Week of May 22
Author
Published
5/24/2023
The price of regular unleaded gasoline rose 6 cents, averaging $3.41 across Iowa according to AAA.
Crude Oil Summary
- The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $3.17 per barrel over last week, currently priced at $74.56.
- Brent crude oil rose $3.06 and is currently priced at $78.43.
- One year ago, WTI crude sold for $112.34 and Brent crude was at $115.77.
Motor Fuels
- As of Wednesday, May 24, the price of regular unleaded gasoline averaged $3.41 across Iowa according to AAA.
- Prices rose 6 cents from last week’s price and 76 cents lower than one year ago.
- The national average on Wednesday was $3.56, up 3 cents from last week’s price.
- Retail diesel prices in Iowa fell 3 cents this week with a statewide average of $3.73.
- One year ago, diesel prices averaged $5.21 in Iowa.
- The current Iowa diesel price is 26 cents less than the national average of $3.99.
- Wholesale ethanol held steady and is currently priced at $2.16.
- The current Des Moines Terminal/Rack Prices are $2.53 for U87-E10, $2.94 for Unleaded 87 (clear), $2.59 for ULSD#2, $3.13 for ULSD#1, and $2.56 per gallon for E-70 prices.
Heating Fuels
- Natural gas prices rose 19 cents at the Henry Hub reporting site and are currently priced at $2.54/MMbtu
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