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The DOE/EIA benchmark retail diesel price rose 20.6 cents to $5.115 a gallon, ending nine weeks of declines. Futures ULSD fell 9.77 cents on the same Monday even as crude rose, which the article attributes to falling European natural gas prices.
Diesel is the base for most US fuel surcharges, so a jump in the benchmark raises freight and feed delivery costs. Gas-driven swings in diesel show that energy costs can move feed-ingredient logistics independently of crude.
freightwaves.comJohn KingstonAug 29, 2022After 105 past bullish macro events, ULSD / Diesel moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% 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.
