(Des Moines) Gasoline prices in Iowa dropped sharply over the past week, while diesel prices also posted a significant decline, according to AAA’s weekly fuel report released Wednesday.
The average price for regular unleaded gasoline in Iowa fell 12 cents to $3.54 per gallon. Despite the weekly decrease, prices remain 50 cents higher than they were one year ago. Nationally, the average price for regular gasoline dropped 10 cents over the past week to $3.93 per gallon.
Retail diesel prices in Iowa also declined, falling 22 cents to an average of $4.52 per gallon. That’s still 90 cents higher than the $3.62 average recorded at this time last year. Iowa’s diesel price is currently 46 cents below the national average of $4.98 per gallon.
Crude oil prices also moved lower this week. West Texas Intermediate (WTI) crude fell $6.16 per barrel to $70.43, while Brent crude dropped $5.39 to $74.01 per barrel. One year ago, WTI crude was selling for $65.45 per barrel, while Brent crude averaged $69.13.
Meanwhile, natural gas prices at the Henry Hub reporting site increased by 7 cents to $3.24 per million British thermal units (MMBtu). Retail heating oil and propane prices in Iowa will resume being reported in October.
