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Oil Up Sharply on West Texas Intermediate; Propane Down for Second Straight Week
Posted 4 January, 2012
The
West Texas Intermediate showed crude oil prices up sharply, increasing
$4.12 to $101.34 per barrel. Unleaded gasoline was down $.01 in
Iowa to $3.11. The wholesale ethanol price was up $.08 to
$2.22. The full report follows:
Crude Oil Summary
The price of global crude oil went up this week with West Texas
Intermediate (WTI) $4.12 higher per barrel over last week, closing at
$101.34.
Brent crude oil fell this week, finishing at $107.54 per barrel on Tuesday’s close, down $.26 from the previous week.
Motor Fuels
As of Tuesday, December 27th, the price of regular unleaded gasoline
averaged $3.11 across Iowa according to AAA. This is down $.01 as
compared to last week. The national average on Tuesday was $3.24,
up $.03 from last week’s price.
Retail diesel fuel prices in Iowa were down $.04 on the Tuesday report
with a statewide average of $3.76. This is $.06 per gallon
lower than the national average of $3.82.
Wholesale ethanol prices were up $.08 from last week, closing at $2.22.
Heating Fuels
This week propane went down a cent with a statewide average of $1.88
per gallon. Home heating oil remained steady with last week’s
report ending with a statewide average of $3.32 per gallon.
Natural Gas prices in Iowa rose $.06 ending the week at $3.09 /
MMbtu
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