According to the Iowa Department of Agriculture and AAA-Iowa, the past week was marked by sharp increases in gasoline prices. As of Wednesday, May 11, the price for a gallon of regular unleaded gasoline averaged $4.12 across the state, a 20-cent increase from a week ago. Prices are $1.25 higher than a year ago, but they are 28 cents below the national average. Movement in diesel fuel was muted, as it climbed only two cents to a $5.30 average in Iowa. Just a year ago, diesel in Iowa was $3.04 per gallon, and the national average as of Wednesday stood at $5.55. Wholesale ethanol held steady at $2.16 with natural gas prices dropping 73 cents at the Henry Hub reporting site to $7.59 per MMBtu.
