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The DOE/EIA benchmark retail diesel price fell 5.9 cents to $4.537 a gallon, a seventh straight weekly decline. ULSD futures settled at $3.3362 a gallon on Monday, up 7.01 cents, and have risen about 55 cents from a Dec.
7 low. Gulf Coast refining operations were lost during a cold snap in the Houston-Beaumont area.
Refinery outages cut distillate supply, which lifts wholesale and futures diesel prices and will eventually pass through to fuel surcharges for feed trucking. Retail prices lag futures, so pump prices may not reflect the rebound for some time.
freightwaves.comJohn KingstonDec 27, 2022After 39 past bullish weather events, ULSD / Diesel moved a median +2.4% over 5 sessions (59% higher; middle half -4.5% to +6.1%), and +8.9% 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.
