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The DOE/EIA weekly average retail diesel price rose 4.2 cents to $3.713 a gallon, adding 30.7 cents over four weeks and reaching its highest level since October 2008. Analysts cited in the report expect oil prices to stay high for longer due to underinvestment in new supply.
Diesel is the benchmark for trucking fuel surcharges, so sustained increases raise feed transport costs for buyers. The rally in diesel and crude signals tight distillate supply and supports higher energy-linked costs across feed logistics.
freightwaves.comJohn KingstonOct 25, 2021After 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.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
