(Des Moines) Iowa drivers are seeing a small reprieve at the pump this week, as regular unleaded gasoline prices dipped by one cent to an average of $2.97 per gallon, according to the latest report from AAA. This marks a 29-cent decrease from the same period last year.
Despite the modest decline in Iowa, the national average price for regular unleaded rose slightly, climbing one cent to $3.18 per gallon.
Retail diesel prices in Iowa also continued their downward trend, falling three cents from last week to an average of $3.34 per gallon. Diesel is now 38 cents cheaper than it was a year ago, when it averaged $3.72. Iowa’s diesel prices remain 22 cents below the current national average of $3.56.
Crude oil prices, a key factor in fuel costs, posted a significant decline this week. West Texas Intermediate (WTI) crude fell $3.41 per barrel, settling at $58.51. Brent crude also dropped, down $2.58 to $63.18 per barrel. These prices represent a sharp year-over-year drop, with WTI and Brent selling for $83.49 and $88.23 respectively in April 2024.
Natural gas prices rose at the Henry Hub reporting site, up 25 cents to $3.32 per million British thermal units (MMbtu). Retail prices for heating oil and propane will resume reporting in October.
