Fuel prices jumped dramatically in this week’s report from the Iowa Department of Agriculture and Land Stewardship (IDALS) and AAA-Iowa. As of Wednesday, the average price for a gallon of regular unleaded gasoline was up 14 cents on the week to $3.06 per gallon, seven cents below prices from a year ago. The national average on Wednesday was up seven cents to $3.19 per gallon. In retail diesel, Iowa prices climbed 20 cents to $3.48 per gallon, just two cents below prices from June 2024. The gap between the local and national diesel averages closed to just 12 cents, as the U.S. mean stood at $3.60. Current prices at the Des Moines Terminal for renewables are $2.09 for E10, $2.46 for Unleaded 87, $2.56 for ULSD #2, $2.81 for ULDS #1, and $1.94 for E70. Natural gas prices at the Henry Hub reporting site climbed 45 cents to $3.96 per MMBtu. Market analysts largely attribute the across-the-board increases to the ongoing conflict in the Middle East between Iran and Israel.
