Loading…
The U.S. average retail diesel price fell 7.3 cents to $2.586 per gallon, the 12th straight weekly decline, according to the Department of Energy. Prices dropped in every region, with the Gulf Coast lowest at $2.363.
Oil had fallen about 15% as excess supply met collapsing demand from the coronavirus.
Continued weekly declines in diesel reduce trucking and farm fuel costs for feed delivery. Retail moves track wholesale weakness, so the bearish energy trend keeps pressure on transport costs.
ttnews.comRoger GilroyMar 30, 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.
