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The DOE/EIA weekly retail diesel price jumped 10.9 cents to $3.586 a gallon, a double-digit weekly increase that has happened only twice in the past decade. ULSD futures have risen 16.2% since September 20, tracking WTI's gain of 14.8%.
A double-digit weekly rise signals a sharp tightening in refined fuel markets, lifting freight and fuel surcharge costs for feed buyers. Crude and diesel strength points to continued upward pressure on logistics expenses.
freightwaves.comJohn KingstonOct 12, 2021Not enough comparable past events yet for a historical read.
Not 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.
