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Ultra low sulfur diesel on the CME settled at $3.1001 a gallon on March 16, up 7.04 cents on the day after two sessions of sharp declines. Retail diesel prices lagged the drop in commodity and wholesale prices.
President Biden criticized oil companies for not passing commodity declines through to pumps.
Volatile wholesale diesel prices feed directly into trucking and farm delivery costs, and retail lag keeps fuel expenses elevated for feed haulers. The short-term rebound signals that the earlier sell-off was not a durable trend.
freightwaves.comJohn KingstonMar 16, 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.
ULSD bounced from sharp declines on March 16, marking the low from which the window's gain is measured.
