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Natural Gas Prices Down, Crude Oil Up
Posted 10 January, 2012
The
West Texas Intermediate showed crude oil prices up again this past
week, increasing $1.62 to $102.96 per barrel. Unleaded gasoline
increased $.03 in Iowa to $3.14 and the mid-grade blend with 10 percent
ethanol increased $.04 to $3.07. The price of natural gas in Iowa
dropped $.13 to $2.96. A summary follows, the full report is
attached:
Crude Oil Summary
The price of global crude oil
went up this week with the West Texas Intermediate (WTI) $1.62 higher
per barrel over last week, closing at $102.96. One year ago the
WTI was $100.96 per barrel.
Brent crude oil also rose this week, finishing at $113.37 per barrel on Tuesday’s close, up $5.83 from the previous week.
Motor Fuels
As
of Tuesday, January 3rd, the price of regular unleaded gasoline
averaged $3.14 across Iowa according to AAA. This is up $.03 as
compared to last week. The national average on Tuesday was $3.29,
up $.05 from last week’s price. One year ago the Iowa average for
unleaded gas was $3.04 and the national average was $3.07.
Retail
diesel fuel prices in Iowa were down $.02 on the Tuesday report with a
statewide average of $3.74. This is $.08 per gallon lower
than the national average of $3.82.
Wholesale ethanol prices
were up $.02 from last week, closing at $2.24. The price of
mid-grade blend in Iowa (10% ethanol) closed at $3.07 per gallon, up
$.04 from last week’s price.
Heating Fuels
This week propane
held steady with a statewide average of $1.88 per gallon. Home
heating oil dropped a penny compared to last week’s report, ending with
a statewide average of $3.31 per gallon. Natural Gas prices in
Iowa dropped $.13 ending the week at $2.96 / MMbtu.
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