Crude Oil Prices On The Rise Again, But Impact Not Yet Seen At The Pump

This past week brought another rise to crude oil prices on the West Texas Intermediate (WTI) by $2.58 per barrel for a total price of $52.11. One year ago, that price was at $44.95. According to AAA, as of this past Tuesday, the average price of regular unleaded gasoline in Iowa was $2.47, down three cents from last week but 29 cents higher than one year ago. The national average was $2.57, down five cents from last week’s price. The current Iowa diesel average is six cents lower than the national average of $2.73 and wholesale ethanol prices dropped seven cents over the week to an average of $1.49.