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The weekly DOE/EIA US retail diesel average fell 3.2 cents to $3.324 per gallon, its largest weekly decline since late March. On the same day, CME ultra-low sulfur diesel futures rose 5.08% to $2.0051 per gallon, the largest one-day gain since May 2020.
Wholesale diesel strength tends to feed through to pump prices and to the cost of hauling and processing feed ingredients. The divergence between retail and futures prices suggests pump prices may catch up with the futures move.
freightwaves.comJohn KingstonAug 23, 2021Not enough comparable past events yet for a historical read.
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.
