US on-highway diesel pump prices rose more than 20 cents to an average of $3.775 per gallon in the week to June 23, a 10-month high, while gasoline rose over 7 cents to $3.213 according to EIA. The Midwest saw the largest diesel increase, and analysts do not expect extreme price spikes to continue.
Higher diesel and energy costs raise farm and feed-transport expenses and reflect the Middle East risk premium in crude and refined products, which can feed through to freight and input costs for feed buyers.
After 105 past bullish macro events, DIESEL moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% over 20.
After 487 past bullish macro events, WTI moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.