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IOWA FUEL PRICES REMAIN BELOW NATIONAL AVERAGE

DES MOINES, IA (OEI Release) –According to the Energy Information Administration, national fuel prices are on a downward trend. “Iowa’s average fuel prices have not followed the national trends, but we are still below the national average,” said Jessica Zopf, Communications Specialist for the Iowa Office of Energy Independence. “Iowa has recently seen an increase in fuel demand due to the late harvest, which has translated to increases in most fuels.”

Motor Fuels
The November 16th average price of 10 percent ethanol blended mid-grade gasoline in Iowa was $2.51 per gallon, which is 33 percent higher than the November 2008 price of $1.89 per gallon of the same blend. The November 16th average price for diesel in Iowa was $2.76 per gallon, which is 1 percent lower than the November 2008 price of $2.80. For Iowa metro area averages, visit:

http://www.energy.iowa.gov/Newsroom/fuel_price.html

 Self-Serve                                      11/16/09                     10/16/09                    Difference

Regular Unleaded with 10% Ethanol       $2.51                      $2.37                         +$0.14

Regular Unleaded                                     $2.58                       $2.44                         +$0.14

Premium Unleaded                                   $2.68                       $2.54                         +$0.14

Diesel                                                         $2.76                      $2.61                        +$0.15

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

 Crude Oil

On November 16th, a barrel of West Texas Cushing Sweet Crude Oil increased to $79.14. The price is a 2 percent increase over the October price of $77.58 and 36 percent higher than the November 2008 price of $58.24.

 Heating Fuels

On November 17th, natural gas was trading at $3.43/MMBtu, which is $2.88 lower than one year ago, a 46 percent decrease. The U.S. Department of Energy, Energy Information Administration reports that working natural gas in storage as of Friday, November 6, was 3,813 Billion cubic feet (Bcf), 409 Bcf above the 5-year average (2004-2008), and 350 Bcf higher than the level during the corresponding week last year. A survey completed by the Iowa Office of Energy Independence on November 16, 2009, indicated that the average retail price of propane in Iowa was $1.57, which is $0.30 lower than the price of propane at this time last year. The same survey found that heating oil is selling in Iowa for an average of $2.43 per gallon across the state, which is $0.03 lower than the price in November of last year.

 Heating Fuel Type                          11/16/09                  10/12/09                        Difference

Natural Gas*                                        $3.43                        $3.70/MMbtu                    -$0.27

Propane*                                           * $1.57                         $1.31                               +$0.26

#2 Heating Oil**                                  $2.43                          $2.21                             +$0.22

*Source: Wall Street Journal, **Source: OEI

To limit the financial impact of fluctuating energy prices, consumers should make improvements to their homes’and vehicles’ energy efficiency. Tips for saving energy and money at home and on the road are available at

www.EnergySavingTips.gov.

The Office of Energy Independence (OEI) sets the strategic direction for Iowa's clean energy future by identifying goals to achieve desired results. The office will align state government efforts for achieving energy independence through partnerships with business and industry, community leaders, government and public agencies, and other stakeholders.