(Des Moines) The average price of regular unleaded gasoline in Iowa dropped five cents over the past week, even as crude oil prices increased sharply, according to the latest weekly fuel report from AAA.
As of Wednesday, regular unleaded gasoline averaged $3.48 per gallon across Iowa, down five cents from last week but 54 cents higher than the same time a year ago. The national average also fell five cents during the week to $3.80 per gallon.
Diesel prices in Iowa also declined, falling four cents to a statewide average of $4.31 per gallon. Despite the weekly decrease, diesel remains significantly higher than a year ago, when the statewide average was $3.54. Iowa’s current diesel price is 46 cents below the national average of $4.77 per gallon.
Meanwhile, crude oil prices moved higher this week. West Texas Intermediate (WTI) crude rose $7.51 per barrel to $75.57, while Brent crude increased $8.83 to $79.93 per barrel. One year ago, WTI crude was selling for $69.55 per barrel and Brent crude was priced at $72.50.
In the heating fuels market, natural gas prices increased one cent to $3.22 per million British thermal units (MMBtu) at the Henry Hub reporting site.
