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The DOE/EIA weekly average retail diesel price rose 3.5 cents to $3.863 a gallon, only the fourth increase in 17 weeks. The move came amid Red Sea shipping disruptions, but oil markets have resumed their decline.
The one-off increase is unlikely to change the downward trend in diesel-based freight costs. Red Sea concerns have not sustained a bullish move in crude.
freightwaves.comJohn KingstonJan 17, 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.
