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The benchmark DOE/EIA diesel price fell 17.4 cents on Monday to $4.967 a gallon, the largest one-week decline since 2009 and the first time below $5 since early October. Physical spreads have collapsed and refineries are producing heavily.
The retail-to-wholesale spread has risen to above $1.90 a gallon, the widest in the series' tracked history.
Falling wholesale prices and collapsed physical spreads point to further declines in fuel surcharges for feed transport. The record spread implies retail prices still have room to fall.
freightwaves.comJohn KingstonDec 5, 2022Not 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.
