Search Icon
SEARCH IEDA

Crude Oil Prices Continue Impact Iowans at the Pump

For more information contact:

For more information contact:

Don Tormey, 515.725.0428,

don.tormey@iowa.gov

Kay Snyder, 515.725.3150,

communications@iowaeda.com

 

 

Crude Oil Prices Continue Impact Iowans at the Pump

April 19, 2011 (Des Moines, Iowa) - Ongoing unrest in the Middle East and North Africa, along with a weakening U.S. dollar, continue to impact global crude oil prices. At the close of trading on April 18th, May delivery West Texas Intermediate crude oil prices had dropped from Friday’s close of $109.66 to $107.12 per barrel.

“A week ago we saw oil prices decline in the markets after the International Energy Agency said current high oil prices are a threat to global economic growth”, said Catherine Fought, Energy Data Analyst with the Office of Energy Independence. “The concern over the impact of oil prices on economic growth will create some downward pressure on crude prices, however, potential spread of unrest in the Middle East, a weakening U.S. dollar and the demand into the summer driving season could translate to continued increases in retail gasoline prices”.  

Motor Fuels
April monthly reporting shows the average price of 10 percent, ethanol blended mid-grade gasoline in Iowa to be $3.70 per gallon as of April 15th, which is a 7.9 percent increase from the March 2011 price of $3.43. The average price for diesel in Iowa on April 15th was $4.08 per gallon, which is a 6.5 percent increase from the March price of $3.83 a gallon. For Iowa metro area averages, visit: http://www.energy.iowa.gov/Newsroom/fuel_price.html .

Self-Serve

4/15/2011

3/15/2011

Change

Regular Unleaded with 10% Ethanol

$3.70

$3.43

$0.27

Regular Unleaded

$3.77

$3.51

$0.26

Premium Unleaded

$3.92

$3.65

$0.27

E-85

$2.84

$2.75

$0.09

Diesel

$4.08

$3.83

$0.25

Source: Oil Price Information Service, www.opisnet.com

 

 

 

Crude Oil

On April 18th, a barrel of West Texas Cushing Sweet Crude Oil closed at $107.12, which is a 4.7 percent increase compared to the previous month’s price of $102.33 and 31.5 percent higher than the April 2010 price of $81.45.

Heating Fuels

On April 18th, natural gas prices increased to $4.21/MMbtu, up from last month’s price of $3.99/MMbtu and a year ago price of $4.02/MMbtu. The EIA reports that working natural gas in storage as of April 8, 2011 was a 0.6 percent increase over the 5-year average (2006-2010) and 7.9 percent lower than the corresponding week last year. 

Tips for saving energy at home or on the road are available at www.energysavers.gov and www.fueleconomy.gov. To review weekly or monthly fuel price reports, please visit: www.energy.iowa.gov/Newsroom/fuel_price.html.

###

Sign up to receive news updates

 

 

 
Iowa Economic Development Authority
200 East Grand Avenue
Des Moines, Iowa 50309
Phone: 1.515.348.6200
email: Email Us

Questions?
Drop Us a Line.

Stay Informed.
Sign Up to Receive Updates.
Emails highlighting economic development news, program updates and upcoming events.