# From Asia to the U.S., fuel prices pummeled by coronavirus fallout

> Prices and margins for motor and aviation fuels fell globally as lockdowns and grounded flights cut demand. Refiners shifted capacity into diesel, and U.S. ULSD cash prices slid to their lowest seasonal level since at least 2011. Jet fuel margins in Asia turned negative for the first time in over a decade.

- Date: 2020-03-23 · published 2020-03-23T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/54329-from-asia-to-the-u-s-fuel-prices-pummeled-by-coronavirus-fallout
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Collapsing fuel demand and refinery overproduction push down diesel costs for trucking and farm operations, lowering feed transport and grain-hauling expenses. Lower crude-linked energy prices also weigh on the broader feed cost outlook.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2020-03-23 | 1 | +13.8% | 3.2 | Dated 2020-03-23, it shows fuel prices and margins collapsing globally as lockdowns cut demand, which matches the sharp WTI move that day. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2020-03-23 | [U.S. diesel cash prices latest to slump from coronavirus fallout - Oil & Gas 360](https://feedsoft.ai/events/54334-u-s-diesel-cash-prices-latest-to-slump-from-coronavirus-fallout-oil-and-gas-360.md) | +6.2% | -11.8% |
| DIESEL | 2020-03-09 | [Shares sunk by coronavirus panic, oil prices plunge \| Reuters](https://feedsoft.ai/events/4641-shares-sunk-by-coronavirus-panic-oil-prices-plunge-reuters.md) | -17.1% | -21.9% |
| DIESEL | 2023-06-20 | [TODAY IN ENERGY: U.S. diesel prices have fallen below prices from before Russia’s invasion of Ukraine](https://feedsoft.ai/events/35679-today-in-energy-u-s-diesel-prices-have-fallen-below-prices-from-before-russia-s.md) | -3.8% | +1.6% |
| DIESEL | 2023-12-12 | [What led to this fall's oil price slide — and what might come next \| CBC News](https://feedsoft.ai/events/32886-what-led-to-this-fall-s-oil-price-slide-and-what-might-come-next-cbc-news.md) | +1.6% | -0.9% |
| DIESEL | 2020-09-21 | [Oil Prices Fall Amid Broad Selloff \| Rigzone](https://feedsoft.ai/events/10536-oil-prices-fall-amid-broad-selloff-rigzone.md) | -3.3% | +1.4% |
| WTI | 2020-05-07 | [As demand for fuel falls, gas prices and output also take a hit \| Coronavirus pandemic \| Al Jazeera](https://feedsoft.ai/events/10440-as-demand-for-fuel-falls-gas-prices-and-output-also-take-a-hit-coronavirus.md) | +6.0% | +56.4% |
| WTI | 2020-09-25 | [Oil prices down for the week on new coronavirus concerns](https://feedsoft.ai/events/51290-oil-prices-down-for-the-week-on-new-coronavirus-concerns.md) | -4.0% | +0.9% |
| WTI | 2020-02-26 | [Oil prices drop to lowest in more than a year as coronavirus spreads](https://feedsoft.ai/events/7110-oil-prices-drop-to-lowest-in-more-than-a-year-as-coronavirus-spreads.md) | -5.2% | -55.9% |

## Sources

- hydrocarbonprocessing.com: https://www.hydrocarbonprocessing.com/news/2020/03/from-asia-to-the-us-fuel-prices-pummeled-by-coronavirus-fallout/

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