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The EIA reported that the US national average diesel price fell 1.5 cents to $3.136 per gallon, the third decline in four weeks. The average has stayed above $3 per gallon for 16 consecutive weeks.
WTI traded at $52.74 per barrel on NYMEX.
Diesel above $3 keeps freight and farm fuel costs elevated for feed buyers. The small weekly decline offers little relief.
stage.logisticsmgmt.comLM StaffJun 4, 2019After 86 past bearish report events, 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.
