Crude Oil, Gas And Diesel Prices All See Price Increases

Crude oil prices saw a sharp increase over the course of the past week, correlating with an increase across the board in gasoline and diesel fuel prices. The price of West Texas Intermediate crude oil rose $3.87 per barrel to $71.27. One year ago, this same barrel of oil sold for $45.88. As of Tuesday, May 8, AAA of Iowa is reporting that the price of regular unleaded gasoline averaged $2.71 across the state, up $.02 from last week and $.19 from last year. The national average was $2.83, also up $.02 from last week. Retail diesel fuel prices also rose $.02 cents, hitting statewide average of $3.04, compared to $2.47 last year. The current Iowa average is $.05 less than the national average of $3.09.