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The DOE/EIA weekly diesel price rose only 1.1 cents to $4.389 per gallon, after four prior weekly increases totaling 57.2 cents. Wholesale ULSD prices swung from $3.288 on Aug.
10 to $3.227 and back to $3.36 within days. Retail owners struggled with the rapid moves in wholesale prices.
Volatile wholesale diesel affects the fuel surcharge benchmark that freight carriers pass on to feed buyers, adding cost uncertainty. The sharp swings show the market is still searching for direction.
freightwaves.comJohn KingstonAug 21, 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.
