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The EIA reported that the average US retail diesel price fell 1.2 cents to $2.583 per gallon for the week ended May 1, 2017, and gasoline prices also dropped significantly. Regional diesel prices declined in most areas, and PADD 1 and PADD 2 prices stayed roughly 28 to 32 cents above year-earlier levels.
Refinery maintenance and restarts were also noted, including PBF's Paulsboro hydrotreater shutdown and Phillips 66's Bayway refinery running at low throughput.
Lower diesel pump prices reduce fuel and freight costs for feed mills and grain haulers, which can ease delivered feed costs. Refinery outages on diesel units can temporarily tighten distillate supply, but the week's data pointed to softer prices.
fuelsmarketnews.comDr. Nancy YamaguchiMay 1, 2017After 86 past bearish report events, ULSD / Diesel moved a median -0.9% over 5 sessions (37% higher; middle half -4.3% to +0.9%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
