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The EIA reported that U.S. national average retail gasoline fell 3.0 cents and diesel fell 1.2 cents in the week ended May 27, 2019, the third straight weekly gasoline decline. Both fuels remained below year-earlier levels.
Futures had dropped sharply the prior week after U.S.-China trade talks failed.
Lower futures and retail diesel prices reduce fuel costs for feed mill and grain transport operations. Ethanol price swings from weather and planting delays could still affect corn-based feed inputs.
fuelsmarketnews.comKeith ReidMay 30, 2019After 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.
After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% 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.
Notes futures dropped sharply the prior week after US-China trade talks failed, confirming the futures selloff context.
