(Des Moines) The average price of regular unleaded gasoline in Iowa increased eight cents over the past week, now averaging $2.55 per gallon, according to AAA’s weekly fuel report released Wednesday.
Despite the increase, gas prices remain 39 cents lower than this time last year. The national average rose five cents this week to $2.88 per gallon.
The increase comes as crude oil prices moved higher. West Texas Intermediate crude rose $2.52 per barrel to $62.94, while Brent crude climbed $3.08 to $68.00 per barrel. One year ago, WTI was trading at $74.15 and Brent crude at $78.01.
Diesel prices in Iowa also increased, rising eight cents this week to a statewide average of $3.40 per gallon. That is slightly below last year’s average of $3.42 and 20 cents lower than the current national average of $3.60.
Heating fuel prices showed mixed movement. Natural gas prices fell $1.02 at the Henry Hub, settling at $3.85 per MMBtu. Propane averaged $1.59 per gallon across Iowa, while home heating oil averaged $2.84 per gallon statewide.
