(Des Moines) Drivers across Iowa are seeing a noticeable increase at the pump this week, even as global crude oil prices move in the opposite direction.
According to AAA, the average price for regular unleaded gasoline in Iowa climbed 21 cents over the past week, reaching $3.64 per gallon. That’s also 56 cents higher than prices at this time last year. Nationally, gas prices rose more modestly, with the average increasing 10 cents to $4.16 per gallon.
Diesel prices saw an even steeper jump in Iowa, rising 25 cents this week to an average of $5.10 per gallon. While significantly higher than last year’s statewide average of $3.39, Iowa diesel prices remain 57 cents below the current national average of $5.67.
At the wholesale level, fuel prices at the Des Moines terminal showed U87-E10 at $2.81 per gallon, clear unleaded 87 at $3.23, ULSD #2 diesel at $4.37, ULSD #1 at $4.45, and E-70 at $2.41 per gallon.
Meanwhile, global crude oil prices declined sharply. West Texas Intermediate (WTI) crude dropped $4.92 per barrel to $94.94, while Brent crude fell $7.35 to $94.51 per barrel. Despite the weekly decline, crude oil prices remain significantly higher than a year ago, when WTI was $60.04 and Brent was $64.86.
In the heating fuels market, natural gas prices also edged lower, falling 9 cents to $2.74 per million British thermal units (MMbtu) at the Henry Hub reporting site.
Retail heating oil and propane prices for Iowa are expected to resume reporting in October.
