The price of oil reportedly hit an all-time low during the coronavirus as demand plummeted, dropping the per barrel price to nearly negative $40. But as the country slowly reopens during the COVID-19 pandemic, prices have rebounded and the current Iowa average for regular unleaded gasoline is now $2.04 per gallon. This is one cent higher than last week, but still $.51 lower than a year ago. The national average is $2.11, up two cents from last week. Iowa diesel prices also rose, but by two cents over last week with a statewide average of $2.18. One year ago, diesel prices in Iowa averaged $2.90. Ethanol prices went up one penny and sit at $1.25. With the onset of summer this weekend and a reduction in need, natural gas prices fell by $.18, currently $1.62 per MMbtu.
