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The EIA average retail diesel price, the benchmark for most fuel surcharges, rose 2.4 cents to $4.028/gallon, its first increase after three weekly declines. Meanwhile CME ULSD futures jumped 17 cents over four days to a record gain for the period.
Retail prices lag futures, so surcharges are likely to rise further as wholesale diesel gains pass through. This raises freight costs for feed and grain shipments.
freightwaves.comJohn KingstonMar 19, 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.
