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The EIA's weekly update for the week ended May 1, 2017 showed diesel prices fell 1.2 cents to an average of $2.583 per gallon, and gasoline prices dropped significantly. PADD 2 diesel fell 1.4 cents to $2.516 per gallon.
Refinery outages included Tesoro's Mandan overhaul and PBF's Paulsboro hydrotreater maintenance.
Lower diesel prices reduce fuel and freight costs for feed ingredients moved by truck and rail. Refinery overhauls on diesel units can cause short-term regional tightness, but the overall trend points to softer prices.
mansfield.energyAlan ApthorpMay 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.
