Iowa gas prices dip slightly

Average gasoline prices in Iowa decreased by 4 cents during the week ending May 15, 2026, bringing the state average to $4.19 per gallon.

According to data from AAA, these prices remain $1.30 higher than the averages recorded one year prior. Despite the year-over-year increase, Iowa’s current gasoline average is lower than the national average of $4.51 per gallon.

Diesel Price Trends

Retail diesel prices in the state followed a similar downward trend, declining by 4 cents to reach a statewide average of $5.36 per gallon.

The current diesel average represents a significant increase from one year ago, when prices in Iowa averaged $3.30 per gallon. However, Iowa’s diesel costs remain 30 cents lower than the national average.

Crude Oil and Natural Gas Markets

The slight dip in retail fuel prices occurred alongside a sharp increase in crude oil costs. West Texas Intermediate rose by $7.35 to $102.37 per barrel.

Brent crude also saw an increase of $4.86, reaching $106.80 per barrel. Both benchmarks are substantially higher than their year-ago levels, which were $65.04 for West Texas Intermediate and $66.93 for Brent crude.

Natural gas prices also trended upward, increasing by 16 cents at the Henry Hub reporting site to reach a price of $2.88 MMbtu.