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The EIA reported that the US national average retail diesel price fell 2.7 cents to $3.010 per gallon for the week ended Jan. 27, while gasoline fell 3.1 cents to $2.506.
Diesel futures fell 4.5% that week amid coronavirus concerns, and retail prices are expected to keep declining.
Falling futures and a government retail data release signal lower diesel costs for trucking and feed logistics in the near term. Coronavirus-driven demand worries are the cited cause of the futures weakness.
fuelsmarketnews.comDr. Nancy YamaguchiJan 29, 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.
After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% 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.
