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Iowa Fuel Report: May 31, 2023

Iowa motorists are seeing moderate dips in fuel prices as the summer driving season begins in earnest, according to the latest report from the Iowa Department of Agriculture and AAA-Iowa. As of Wednesday, May 31, the price of regular unleaded gasoline averaged $3.37 per gallon across the state, a four-cent decrease from last week and 89 cents lower than a year ago. The national average climbed two cents on the week to $3.58 per gallon. Retail diesel in Iowa was down three cents to a $3.70 per gallon average, compared to $5.16 per gallon a year ago. Local prices remain 25 cents below national averages, which stood at $3.95 per gallon. Wholesale ethanol was unchanged at $2.16. Natural gas prices at the Henry Hub reporting site dipped 23 cents to $2.31 per MMBtu.

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