DES MOINES – After a nine cent drop last week, natural gas prices rebounded with a seven cent gain, closing the week at $2.79/MMbtu.
Crude Oil Summary
The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $1.88 per barrel over last week, and is currently priced at $40.24.
Brent crude oil fell $1.13, and is currently priced at $42.49.
One year ago WTI crude sold for $45.17 and Brent crude was at $49.49.
As of Tuesday, August 2nd, the price of regular unleaded gasoline averaged $2.10 across Iowa according to AAA. This is $.04 lower than one week ago and $.60 lower than one year ago. The national average on Tuesday was $2.12, $.03 lower than last week.
Retail diesel fuel prices in Iowa were down $.02 with a statewide average of $2.30. One year ago diesel prices averaged $2.56 in Iowa. The current Iowa diesel average is a penny lower than the national average of $2.31.
Wholesale ethanol prices were $.06 lower this week, closing at $1.38.
The current Des Moines Terminal/Rack Prices are $1.37 for U87-E10, $1.60 for Unleaded 87 (clear), ULSD#2 is at $1.34, ULSD#1 is at $1.51, and E-70 is priced at $1.53 per gallon.
Natural Gas prices were $.07 higher at the Henry Hub reporting site and ended the week at $2.79 / MMbtu.