(Des Moines) Iowa drivers are seeing a sharp increase at the pump this week as fuel prices climb alongside a significant rise in global crude oil markets.
According to AAA, the average price for regular unleaded gasoline in Iowa rose 33 cents from last week to $3.84 per gallon. That’s also 86 cents higher than this time a year ago. Nationally, the average price reached $4.23 per gallon on Wednesday, up 21 cents from the previous week.
The spike in fuel prices comes as crude oil markets posted notable gains. West Texas Intermediate crude oil increased $12.65 per barrel to $105.21, while Brent crude oil rose $15.78 to $117.20 per barrel. A year ago, WTI was priced at $61.84 and Brent at $64.04, highlighting the sharp year-over-year increase.
Diesel prices in Iowa also edged higher, climbing 3 cents this week to an average of $4.94 per gallon. Despite the increase, diesel remains 52 cents below the national average of $5.46. One year ago, diesel prices in Iowa averaged $3.35 per gallon.
Meanwhile, heating fuel markets showed some relief. Natural gas prices at the Henry Hub reporting site fell 6 cents to $2.65 per million British thermal units (MMbtu).
State officials note that retail heating oil and propane prices will resume regular reporting in Iowa beginning in October.
