# Diesel prices: The loss of US refining capacity is making things worse - FreightWaves

> FreightWaves reports that lost US refining capacity and slow foreign response have pushed product prices up sharply relative to crude. The 3:2:1 crack spread for WTI has hovered just under $60 a barrel, far above pre-pandemic levels.

- Date: 2022-06-14 · published 2022-06-14T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/41119-diesel-prices-the-loss-of-us-refining-capacity-is-making-things-worse
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Wide product cracks mean diesel and gasoline stay expensive even if crude is steady, lifting trucking and farm operating costs.

## Read by commodity

- WTI: neutral
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2022-10-28 | [East Coast retail diesel prices moving significantly higher than overall US hikes - FreightWaves](https://feedsoft.ai/events/39315-east-coast-retail-diesel-prices-moving-significantly-higher-than-overall-us.md) | -4.2% | -25.3% |
| DIESEL | 2019-12-11 | [Reaction in the diesel market to IMO 2020 is still to come: Platts - FreightWaves](https://feedsoft.ai/events/55751-reaction-in-the-diesel-market-to-imo-2020-is-still-to-come-platts-freightwaves.md) | +3.5% | -0.9% |
| DIESEL | 2022-04-28 | [Why diesel prices are driving up the cost of everything](https://feedsoft.ai/events/42030-why-diesel-prices-are-driving-up-the-cost-of-everything.md) | -3.1% | -16.2% |
| DIESEL | 2026-10-28 | [Diesel prices may stay elevated into spring 2027, fuel executives warn  - FreightWaves](https://feedsoft.ai/events/273-diesel-prices-may-stay-elevated-into-spring-2027-fuel-executives-warn.md) | -4.2% | — |
| DIESEL | 2021-10-25 | [DOE/EIA diesel price now up 30 cents in a month - FreightWaves](https://feedsoft.ai/events/44747-doe-eia-diesel-price-now-up-30-cents-in-a-month-freightwaves.md) | -2.2% | -10.1% |
| WTI | 2020-01-30 | [Marathon CEO predicts ‘stair-step’ of diesel margins in response to IMO 2020 - FreightWaves](https://feedsoft.ai/events/55258-marathon-ceo-predicts-stair-step-of-diesel-margins-in-response-to-imo-2020.md) | -4.6% | -11.6% |
| WTI | 2021-06-28 | [New streak underway: DOE/EIA diesel price up 9th straight week - FreightWaves](https://feedsoft.ai/events/46785-new-streak-underway-doe-eia-diesel-price-up-9th-straight-week-freightwaves.md) | +1.5% | -2.8% |
| WTI | 2026-06-26 | [US diesel refining economics remain firm despite Iran war truce \| Reuters](https://feedsoft.ai/events/19002-us-diesel-refining-economics-remain-firm-despite-iran-war-truce-reuters.md) | -4.2% | +28.1% |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/as-diesel-prices-soar-past-crude-refining-squeeze-challenges-oil-markets

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.