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The DOE/EIA weekly retail diesel average rose 8.6 cents to $4.475 per gallon, its seventh increase in eight weeks. The benchmark is up 70.8 cents since July 3.
Futures for ULSD fell sharply on the same day after a Louisiana refinery recovered from a fire, easing supply concerns.
Retail diesel sets most trucking fuel surcharges, so the rising benchmark increases hauling costs for feed and grain. The futures drop suggests the supply scare is fading, which could limit further gains.
freightwaves.comJohn KingstonAug 28, 2023Not 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.
