# No war for now brings another drop in benchmark diesel price - FreightWaves

> Benchmark ULSD futures settled at $2.2635 a gallon on August 19, the lowest of 2024, after Israel-Iran war fears from August 12 failed to produce a shooting war. The EIA retail diesel price fell 1.6 cents to $3.688 that week, its sixth straight decline. RBOB gasoline also dropped about 2%.

- Date: 2024-08-19 · published 2024-08-19T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/28989-no-war-for-now-brings-another-drop-in-benchmark-diesel-price-freightwaves
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Easing Middle East tensions removed a risk premium from crude and diesel, lowering energy costs for feed mills and transport. Continued softness in fuel prices supports lower freight and processing costs.

## Read by commodity

- BRENT: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2024-04-22 | [Benchmark diesel price below $4 again as war-led rally fizzles - FreightWaves](https://feedsoft.ai/events/30909-benchmark-diesel-price-below-4-again-as-war-led-rally-fizzles-freightwaves.md) | +0.3% | -2.3% |
| DIESEL | 2026-06-23 | [Benchmark diesel price falls below $5 per gallon - FreightWaves](https://feedsoft.ai/events/19007-benchmark-diesel-price-falls-below-5-per-gallon-freightwaves.md) | +7.4% | +33.6% |
| DIESEL | 2020-03-09 | [The oil price war is on; what that means for buyers of diesel - FreightWaves](https://feedsoft.ai/events/54330-the-oil-price-war-is-on-what-that-means-for-buyers-of-diesel-freightwaves.md) | -17.1% | -21.9% |
| DIESEL | 2023-02-21 | [Diesel price down, but impact of Russian sanctions may be lifting rates overall - FreightWaves](https://feedsoft.ai/events/37498-diesel-price-down-but-impact-of-russian-sanctions-may-be-lifting-rates-overall.md) | +3.7% | -0.7% |
| DIESEL | 2026-06-24 | [Diesel Prices Fall Below $5 a Gallon - TT](https://feedsoft.ai/events/19006-diesel-prices-fall-below-5-a-gallon-tt.md) | +4.3% | +30.9% |
| BRENT | 2024-04-22 | [Benchmark diesel price below $4 again as war-led rally fizzles - FreightWaves](https://feedsoft.ai/events/30909-benchmark-diesel-price-below-4-again-as-war-led-rally-fizzles-freightwaves.md) | +2.4% | -5.2% |
| BRENT | 2020-03-09 | [The oil price war is on; what that means for buyers of diesel - FreightWaves](https://feedsoft.ai/events/54330-the-oil-price-war-is-on-what-that-means-for-buyers-of-diesel-freightwaves.md) | -27.3% | -36.6% |
| BRENT | 2023-02-21 | [Diesel price down, but impact of Russian sanctions may be lifting rates overall - FreightWaves](https://feedsoft.ai/events/37498-diesel-price-down-but-impact-of-russian-sanctions-may-be-lifting-rates-overall.md) | -1.3% | -11.8% |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/no-war-for-now-brings-another-drop-in-benchmark-diesel-price

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