Fuel prices in Iowa dropped significantly over the past week as gas and diesel approached milestones since they set record highs earlier this year. According to the Iowa Department of Agriculture and AAA-Iowa, the price for a gallon of regular unleaded gasoline averaged $4.00 across the state as of July 27. Gas is 24 cents lower than a week ago but still $1.01 higher than this time last year. The national average on Wednesday dropped 17 cents to $4.30 per gallon. Diesel saw similar movement, dropping 15 cents on the week to an average of $5.01 per gallon. A year ago, diesel prices averaged just $3.12 per gallon in Iowa. The national average for diesel stood at $5.37 per gallon as of Wednesday. Wholesale ethanol was unchanged at $2.16. Natural gas prices at the Henry Hub reporting site soared 61 cents, currently priced at $8.57 per MMBtu.
