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The DOE/EIA benchmark diesel price rose 1.8 cents to $4.622 a gallon, its second straight weekly gain. CME ULSD futures, however, fell back to a $3.1108 settlement on Monday after peaking at $3.5509 on Jan.
23, and wholesale prices also slid.
Futures leading lower points to softer diesel costs ahead, which eases freight and fuel-surcharge pressure on feed delivery. Retail prices are likely to follow the decline with a lag.
freightwaves.comJohn KingstonJan 30, 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.
