# Diesel benchmark up a few cents; futures prices soar on Mideast concerns - FreightWaves

> The EIA average retail diesel price rose 4 cents to $3.584 a gallon on October 7, the third straight weekly gain. ULSD futures on the CME settled at $2.3926 a gallon, the highest since August 12, after rising 8.35 cents that day, as oil surged on fears of Israeli-Iranian attacks on Iran's oil industry.

- Date: 2024-10-07 · published 2024-10-07T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/11682-diesel-benchmark-up-a-few-cents-futures-prices-soar-on-mideast-concerns
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Middle East risk premium is lifting diesel futures faster than retail fuel surcharge benchmarks, raising freight and farm-operating costs for feed buyers. Diesel-linked costs for grain and feed transport are likely to stay firm while the geopolitical risk persists.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-03-31 | [Benchmark diesel price up for second straight week, futures markets rise sharply - FreightWaves](https://feedsoft.ai/events/25784-benchmark-diesel-price-up-for-second-straight-week-futures-markets-rise-sharply.md) | -10.5% | -9.7% |
| WTI | 2025-03-24 | [Benchmark diesel price up first time in 3 weeks, futures markets edge higher - FreightWaves](https://feedsoft.ai/events/25787-benchmark-diesel-price-up-first-time-in-3-weeks-futures-markets-edge-higher.md) | +1.7% | -7.4% |
| WTI | 2023-10-10 | [Benchmark retail diesel price falls, but Israeli conflict boosts futures - FreightWaves](https://feedsoft.ai/events/33826-benchmark-retail-diesel-price-falls-but-israeli-conflict-boosts-futures.md) | +3.2% | -3.2% |
| WTI | 2024-04-08 | [Benchmark diesel price heads higher; so do world oil markets - FreightWaves](https://feedsoft.ai/events/30915-benchmark-diesel-price-heads-higher-so-do-world-oil-markets-freightwaves.md) | -1.4% | -9.5% |
| WTI | 2023-12-26 | [After dropping for 8 weeks, benchmark diesel price turns higher - FreightWaves](https://feedsoft.ai/events/32875-after-dropping-for-8-weeks-benchmark-diesel-price-turns-higher-freightwaves.md) | -3.9% | +2.7% |
| BRENT | 2025-01-13 | [Benchmark diesel price up for third week as oil futures markets soar again - FreightWaves](https://feedsoft.ai/events/11453-benchmark-diesel-price-up-for-third-week-as-oil-futures-markets-soar-again.md) | +2.7% | -6.4% |
| BRENT | 2023-12-18 | [Diesel benchmark down again, futures markets up amid Red Sea tension - FreightWaves](https://feedsoft.ai/events/32876-diesel-benchmark-down-again-futures-markets-up-amid-red-sea-tension-freightwaves.md) | +3.9% | +3.3% |
| BRENT | 2023-10-10 | [Benchmark retail diesel price falls, but Israeli conflict boosts futures - FreightWaves](https://feedsoft.ai/events/33826-benchmark-retail-diesel-price-falls-but-israeli-conflict-boosts-futures.md) | +0.6% | -3.9% |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/diesel-benchmark-up-a-few-cents-futures-prices-soar-on-mideast-concerns

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.