(Des Moines) Iowa motorists are seeing higher prices at the pump this week, as the average cost of regular unleaded gasoline rose 14 cents to $3.06 per gallon, according to the latest report from AAA.
The rise in fuel costs follows a significant increase in crude oil prices. West Texas Intermediate (WTI) crude climbed $7.16 this week to $73.78 per barrel, while Brent crude increased $6.94 to $75.26. Despite the jump, both prices remain lower than a year ago, when WTI was at $82.67 and Brent at $84.79.
Gasoline in Iowa remains cheaper than the national average of $3.19 per gallon, which also rose seven cents this week. Compared to this time last year, Iowa’s average price is down seven cents.
Diesel prices in Iowa also rose sharply, increasing 20 cents to an average of $3.48 per gallon. That price is nearly on par with last year’s $3.50 average and remains below the national diesel average of $3.60.
Natural gas prices at the Henry Hub rose 45 cents and are now priced at $3.96 per million British thermal units (MMBtu).
