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The DOE/EIA benchmark US diesel price rose 22.2 cents a gallon in the week effective July 31, lifting it to $4.127 a gallon, the highest since March 27. The price has risen 36 cents over four weeks.
Analysts note that a one-week jump of this size is rare and was not tied to a specific news event.
Diesel is a major input to freight and fuel surcharges, so a sharp rise lifts transport costs for feed mills and raises the cost of delivered feed ingredients. The momentum suggests continued upward pressure on diesel and related fuel costs.
freightwaves.comJohn KingstonJul 31, 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.
