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A nationwide freight slowdown has helped cut U.S. diesel prices roughly in half from last year's record. Wholesale diesel fell to $2.65 a gallon in New York Harbor, down from $5.34 last May.
Falling diesel reflects weaker freight and industrial demand, a macro warning sign; lower fuel costs ease farm and feed transport expenses but signal softer demand for goods and grain hauling.
wsj.comDavid Uberti and Bob HendersonApr 25, 2023After 79 past bearish macro events, ULSD / Diesel moved a median -1.0% over 5 sessions (39% higher; middle half -5.7% to +1.7%), and -1.5% over 20.
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.
