(Des Moines) Gas prices across Iowa declined for the week, offering relief to drivers as global crude oil costs also moved lower.
According to AAA, the average price for regular unleaded gasoline in Iowa fell 9 cents from last week to $2.45 per gallon. Prices are now 57 cents lower than they were one year ago. The national average on Wednesday stood at $2.92 per gallon, down 2 cents from the previous week.
Diesel prices also edged downward. The statewide average for retail diesel dropped 5 cents to $3.40 per gallon. While slightly below last year’s Iowa average of $3.44, current diesel prices in the state are 27 cents cheaper than the national average of $3.67.
The decline in pump prices coincides with falling global crude oil benchmarks. West Texas Intermediate crude dropped $3.69 per barrel this week to $61.60, while Brent crude fell $2.48 to $67.72 per barrel. One year ago, WTI crude traded at $72.21 and Brent crude at $83.02.
Heating fuel costs also showed mixed movement. Natural gas prices at the Henry Hub benchmark decreased 19 cents to $2.96 per million British thermal units. Propane prices in Iowa averaged $1.63 per gallon, while home heating oil held a statewide average of $2.94 per gallon.
