# Benchmark diesel price up for second straight week, futures markets rise sharply - FreightWaves

> The US benchmark diesel price used for most fuel surcharges rose for a second week, with the EIA average at $3.592 a gallon. CME futures rose sharply on March 31, with ULSD settling at $2.314 and WTI above $70 for the first time since February 27. Reports tied the move to Trump's anger at Putin and possible secondary tariffs on Russia-linked oil.

- Date: 2025-03-31 · published 2025-03-31T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/25784-benchmark-diesel-price-up-for-second-straight-week-futures-markets-rise-sharply
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Threatened sanctions on Russian crude and products could tighten diesel and crude supply, lifting fuel surcharges that feed-buyers pay on freight. The move also signals that diesel costs may be bottoming.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 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) | +4.9% | -0.9% |
| DIESEL | 2026-02-24 | [For 7th straight week, benchmark diesel price is higher - FreightWaves](https://feedsoft.ai/events/20775-for-7th-straight-week-benchmark-diesel-price-is-higher-freightwaves.md) | +8.7% | +52.0% |
| DIESEL | 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) | +0.5% | -6.1% |
| DIESEL | 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) | +1.0% | +1.3% |
| DIESEL | 2024-10-07 | [Diesel benchmark up a few cents; futures prices soar on Mideast concerns - FreightWaves](https://feedsoft.ai/events/11682-diesel-benchmark-up-a-few-cents-futures-prices-soar-on-mideast-concerns.md) | +1.6% | -2.9% |
| WTI | 2026-02-24 | [For 7th straight week, benchmark diesel price is higher - FreightWaves](https://feedsoft.ai/events/20775-for-7th-straight-week-benchmark-diesel-price-is-higher-freightwaves.md) | +7.3% | +34.0% |
| 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 | 2024-10-07 | [Diesel benchmark up a few cents; futures prices soar on Mideast concerns - FreightWaves](https://feedsoft.ai/events/11682-diesel-benchmark-up-a-few-cents-futures-prices-soar-on-mideast-concerns.md) | +1.6% | -6.7% |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/benchmark-diesel-price-up-for-second-straight-week-futures-markets-rise-sharply

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