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The EIA weekly report showed East Coast diesel inventories rising 1.21 million barrels to 20.4 million barrels, after declining in 13 of the prior 15 weeks. The East Coast retail diesel price was 33.1 cents above the national average of $5.613 a gallon, after a spread that had widened from 4.9 cents in late April.
Easing regional diesel tightness lowers freight and fuel costs for feed mill delivery and grain hauling, though the market remains tight nationally. Diesel is a key input cost for feed logistics, so a modest easing is mildly bearish for transport-related feed costs.
freightwaves.comJohn KingstonMay 18, 2022Not 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.
