# Key diesel price benchmark falls closer to $4/gallon - FreightWaves

> The DOE/EIA diesel benchmark fell 5.9 cents to $4.018 a gallon on May 1, down about 80 cents from its 2022 peak. The CME ULSD futures curve moved into contango for the first time since August 2021.

- Date: 2023-05-01 · published 2023-05-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/36135-key-diesel-price-benchmark-falls-closer-to-4-gallon-freightwaves
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A contango signals a looser near-term diesel market, pointing to lower fuel surcharges for feed transport. Weakening futures structure supports further retail declines.

## Read by commodity

- DIESEL: bearish ▼

## Sources

- freightwaves.com: https://www.freightwaves.com/news/key-diesel-price-benchmark-falls-closer-to-4-gallon

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.