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The EIA benchmark diesel price slipped 2 cents to $5.313 per gallon, the fourth week of small moves. CME ULSD futures declined for seven straight sessions, and East Coast prices showed signs of a squeeze, with New England diesel above $6 per gallon.
Futures weakness suggests retail diesel will fall, but regional squeezes keep local transport costs high. The overall price implication is bearish for diesel.
freightwaves.comJohn KingstonNov 14, 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.
