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The DOE/EIA weekly retail diesel benchmark fell 3.1 cents to $3.758 a gallon, its seventh straight weekly decline. CME ULSD futures rose 5.14 cents to $2.465 a gallon that day, with analysts citing Middle East violence rather than a market-specific cause.
Lower diesel benchmarks reduce fuel surcharges for freight and farm transport costs, a modest tailwind for feed delivery budgets. The futures bounce suggests the decline may be slowing.
freightwaves.comJohn KingstonMay 28, 2024Not 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.
