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The EIA's May 1 update showed the US average diesel pump price fell 1.2 cents to $2.583 per gallon, a second straight weekly decline. Prices were broadly lower across regions, with California the highest in the lower 48 at $2.937 and the Gulf Coast the lowest at $2.45.
Diesel remained about 31.7 cents above its level a year earlier.
Diesel is a major input for feed ingredient transport, so a small, sustained decline lowers hauling costs for feed buyers. Prices have stayed in a narrow range this year, so the effect on feed prices is likely modest.
fleetowner.comKevin JonesMay 2, 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.
