(Des Moines) Iowa drivers are seeing a sharp increase at the pump this week, even as global crude oil prices decline.
According to AAA, the average price for regular unleaded gasoline in Iowa rose 39 cents from last week to $4.23 per gallon. That marks a significant increase of $1.30 compared to this time last year. Nationally, the average price climbed to $4.54 per gallon, up 31 cents from the previous week.
The spike in fuel prices comes despite a notable drop in crude oil markets. West Texas Intermediate (WTI) crude fell $10.19 per barrel this week to $95.02, while Brent crude dropped $15.26 to $101.94 per barrel. One year ago, WTI crude was priced at $60.42 per barrel and Brent crude at $62.37.
Diesel prices also saw a substantial increase. The statewide average for diesel fuel rose 46 cents to $5.40 per gallon. While that is significantly higher than the $3.31 average a year ago, Iowa diesel prices remain 27 cents below the current national average of $5.67.
In the heating fuel sector, natural gas prices increased slightly. At the Henry Hub reporting site, prices rose 7 cents to $2.72 per million British thermal units (MMbtu).
Officials note that retail heating oil and propane price tracking in Iowa will resume in October as colder weather approaches.
