tamatoleodnews.com – DES MOINES (SPECIAL) – Gasoline prices have continued increasing over the past month. “With the summer driving season upon us, supply preparations are taking place to meet the anticipated increase in demand,” said Jessica Zopf, Communications Specialist for the Iowa Department of Natural Resources. “During this period of adjustment, we may continue to see fluctuations in gasoline prices.”

Motor Fuels

The June 15th average price of 10 percent ethanol blended mid-grade gasoline in Iowa was $2.56 per gallon, which is 33 percent lower than the June 2008 price of $3.86 per gallon of the same blend. The June 15th average price for diesel in Iowa was $2.54 per gallon, which is 46 percent lower than the June 2008 price of $4.68. For Iowa metro area averages, visit: http://www.energy.iowa.gov/Newsroom/fuel_price.html

Self-Serve

6/15/09

5/15/09

Difference

Regular Unleaded with 10% Ethanol

$2.56

$2.16

+$0.40

Regular Unleaded

$2.63

$2.22

+$0. 41

Premium Unleaded

$2.72

$2.26

+$0.46

Diesel

$2.54

$2.18

+$0.36

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

Crude Oil

On June 16th, a barrel of West Texas Cushing Sweet Crude Oil rose to $70.62. The price is a 25 percent increase over May’s price of $56.34 and 49.5 percent lower than the June 2008 price of $139.89.

Heating Fuels

On June 15th, natural gas was trading at $3.82/MMBtu, which is $9.14 lower than one year ago, a 71 percent decrease. The U.S. Department of Energy, Energy Information Administration reports that working natural gas in storage as of Friday, June 5, was 2,443 Billion cubic feet (Bcf), 438 Bcf above the 5-year average (2004-2008), and 568 Bcf higher than the level during the corresponding week last year.

A survey completed by the Iowa Office of Energy Independence on June 16, 2009, indicated that the average retail price of propane in Iowa was $1.32, which is $0.86 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 $2.15 per gallon across the state, which is $2.12 lower than the price in May of last year.

Now that the cooling season is upon us, consumers are encouraged to think about energy saving strategies for the summer season. The U.S. Department of Energy provides energy savings tips on its “Stay Cool, Save Money” website at http://www.energysavers.gov/seasonal/. The Iowa Energy Center’s “Home Series” also provides energy saving information for consumers. Home Series booklets are available at http://www.energy.iastate.edu/homeseries/index.htm

Heating Fuel Type

5/14/09

Natural Gas*

3.82 /MMbtu

4.08/MMbtu

-$0.26

Propane**

$1.32

$1.33

-$0.01

#2 Heating Oil**

$2.15

$1.81

+$0.34

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

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.