News Column

Natural Gas and Propane Prices Retreat

February 19, 2014



DES MOINES, Iowa, Feb. 19 -- The Iowa Department of Agriculture and Land Stewardship issued the following news release:

Natural gas prices in Iowa dropped $1.83 this week, closing the week at $5.80 / MMbtu. Propane prices continued to decline, closing at $2.81, a $.27 drop this week.

Crude Oil Summary

The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.68 per barrel over last week, currently at $102.99.

Brent crude oil rose $1.78 this week, currently at $110.54.

One year ago WTI crude sold for $96.66 and Brent crude was at $117.04.

Motor Fuels

As of Tuesday, February 18th, the price of regular unleaded gasoline averaged $3.33 across Iowa according to AAA. This is up $.08 from last week and down $.40 from one year ago. The national average on Tuesday was $3.38, up $.06 from last week's price.

Retail diesel fuel prices in Iowa rose a penny on the Tuesday report with a statewide average of $3.79. One year ago diesel prices averaged $4.03 in Iowa. The current Iowa diesel average is $.18 per gallon lower than the national average of $3.97.

Wholesale ethanol prices rose $.14 this week, closing at $2.10. The price of Mid-Grade Blend in Iowa (10% ethanol) closed at $3.22 per gallon, up $.07 from last week's price and down $.42 from one year ago.

Heating Fuels

Propane prices fell $.27 compared to last week's price with a statewide average of $2.81 per gallon. Home heating oil rose $.03 from last week's figures, ending with a statewide average of $3.49. Natural Gas prices in Iowa were down $1.83 from last week's report, ending the week at $5.80 / MMbtu.

Tips for saving energy on the road or at home are available at www.energysavers.gov and at www.fueleconomy.gov.

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Source: Targeted News Service


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