# Diesel benchmark up slightly; futures market soars on forecast of extreme cold - FreightWaves

> The DOE/EIA benchmark retail diesel price rose 2.7 cents to $3.503 a gallon, the final weekly reading of 2024. Futures jumped as long-range forecasts pointed to extreme cold in the US and Europe, with ULSD and natural gas both rising sharply.

- Date: 2024-12-30 · published 2024-12-30T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/27156-diesel-benchmark-up-slightly-futures-market-soars-on-forecast-of-extreme-cold
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Expected heating demand for diesel and natural gas tightens distillate supply and supports fuel costs, which feed into freight surcharges and farm energy and drying expenses.

## Read by commodity

- DIESEL: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2026-01-28 | [Diesel surging on cold weather, more increases in DOE/EIA benchmark loom - FreightWaves](https://feedsoft.ai/events/21244-diesel-surging-on-cold-weather-more-increases-in-doe-eia-benchmark-loom.md) | -4.8% | +7.9% |
| DIESEL | 2022-12-27 | [Benchmark diesel price down again but futures price turns higher - FreightWaves](https://feedsoft.ai/events/38423-benchmark-diesel-price-down-again-but-futures-price-turns-higher-freightwaves.md) | -4.3% | +3.3% |
| DIESEL | 2020-08-24 | [Diesel price hike relatively muted as oil markets await arrival of Laura - FreightWaves](https://feedsoft.ai/events/51796-diesel-price-hike-relatively-muted-as-oil-markets-await-arrival-of-laura.md) | +0.4% | -7.3% |
| DIESEL | 2026-01-27 | [Marine Gasoil on East Coast Surges as Frigid Weather Pressures Diesel Market Higher - OPIS, A Dow Jones Company](https://feedsoft.ai/events/21250-marine-gasoil-on-east-coast-surges-as-frigid-weather-pressures-diesel-market.md) | -4.8% | +12.0% |
| DIESEL | 2021-02-15 | [Higher diesel prices likely as freeze shuts down Gulf Coast refineries - FreightWaves](https://feedsoft.ai/events/48826-higher-diesel-prices-likely-as-freeze-shuts-down-gulf-coast-refineries.md) | +4.9% | +9.7% |
| NATGAS | 2022-12-08 | [US natgas futures surge on forecasts for colder weather - Markets - Business Recorder](https://feedsoft.ai/events/11507-us-natgas-futures-surge-on-forecasts-for-colder-weather-markets-business.md) | +27.9% | -29.6% |
| NATGAS | 2024-01-08 | [UPDATE 1-US natgas prices up 3% to 7-week high on extreme cold forecasts](https://feedsoft.ai/events/4190-update-1-us-natgas-prices-up-3-to-7-week-high-on-extreme-cold-forecasts.md) | +134.5% | -25.5% |
| NATGAS | 2025-01-11 | [US natural gas prices soar to two-year high on colder forecasts - Markets - Business Recorder](https://feedsoft.ai/events/26699-us-natural-gas-prices-soar-to-two-year-high-on-colder-forecasts-markets.md) | +53.7% | -14.7% |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/diesel-benchmark-up-slightly-futures-market-soars-on-forecast-of-extreme-cold

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