# Oil’s collapse and its effect on diesel prices - FreightWaves

> WTI May futures settled at negative $37.63 per barrel after a collapse in demand and a lack of storage. Commentary explains that long holders faced delivery with nowhere to store the oil, and that retail diesel does not fall as fast as crude.

- Date: 2020-04-22 · published 2020-04-22T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/53806-oil-s-collapse-and-its-effect-on-diesel-prices-freightwaves
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Crude's collapse is driven by oversupply and storage limits, and pass-through to diesel is slower, so fuel costs for buyers fall less than headline crude suggests.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2020-04-24 | 5 | -28.6% | -7.0 | It describes the crude collapse and how it passes through to diesel prices, though retail prices lag futures. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-03-20 | [Benchmark diesel price down 7 weeks in a row - FreightWaves](https://feedsoft.ai/events/37031-benchmark-diesel-price-down-7-weeks-in-a-row-freightwaves.md) | +3.9% | +21.4% |
| WTI | 2020-04-21 | [Diesel’s price decline Tuesday was historic; crude’s fall sets another record - FreightWaves](https://feedsoft.ai/events/53805-diesel-s-price-decline-tuesday-was-historic-crude-s-fall-sets-another-record.md) | -32.4% | +73.9% |
| WTI | 2026-08-28 | [Dollar Strength and Increased Middle East Oil Flows Weigh on Crude Prices](https://feedsoft.ai/events/18056-dollar-strength-and-increased-middle-east-oil-flows-weigh-on-crude-prices.md) | +9.2% | +13.1% |
| WTI | 2024-10-28 | [Benchmark diesel price rises against backdrop of falling futures - FreightWaves](https://feedsoft.ai/events/28037-benchmark-diesel-price-rises-against-backdrop-of-falling-futures-freightwaves.md) | -3.1% | -0.6% |
| WTI | 2024-11-19 | [What do Diesel and Gasoline Tell us About Oil Prices?](https://feedsoft.ai/events/27582-what-do-diesel-and-gasoline-tell-us-about-oil-prices.md) | -0.2% | +1.3% |
| DIESEL | 2022-03-28 | [Up and down: DOE/EIA price way up, diesel futures plummet - FreightWaves](https://feedsoft.ai/events/9138-up-and-down-doe-eia-price-way-up-diesel-futures-plummet-freightwaves.md) | -18.2% | +0.1% |
| DIESEL | 2023-03-20 | [Benchmark diesel price down 7 weeks in a row - FreightWaves](https://feedsoft.ai/events/37031-benchmark-diesel-price-down-7-weeks-in-a-row-freightwaves.md) | +0.8% | -2.0% |
| DIESEL | 2020-04-21 | [Diesel’s price decline Tuesday was historic; crude’s fall sets another record - FreightWaves](https://feedsoft.ai/events/53805-diesel-s-price-decline-tuesday-was-historic-crude-s-fall-sets-another-record.md) | -32.2% | +11.1% |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/fuel-prices-drop

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