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The EIA reported that the US national average diesel price fell for a second straight week, to $2.427 per gallon for the week of July 27. The average is down 60.7 cents from a year earlier and has stayed below $3 since early February.
West Texas Intermediate traded at $41.16 per barrel.
Lower diesel prices reduce transport costs for feed ingredients and finished feed. The decline is modest and is in line with the trend of soft crude prices.
stage.logisticsmgmt.comLM StaffJul 28, 2020After 86 past bearish report events, ULSD / Diesel moved a median -0.9% over 5 sessions (37% higher; middle half -4.3% to +0.9%), and +0.4% 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.
