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The EIA weekly diesel benchmark fell 13.6 cents to $5.432 a gallon for the week of July 18, the largest weekly drop since December 2014. The price is now 37.8 cents below its June 20 record high.
CME ULSD futures had been relatively stable, then settled at $3.655 a gallon after a 1.18% decline.
The retail diesel decline lowers fuel surcharges and transport costs for feed and grain shipments. The gap between retail prices and futures suggests a catch-up dynamic that could keep pressure on energy-linked freight costs.
freightwaves.comJohn KingstonJul 19, 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.
