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The EIA reported that the U.S. regular retail gasoline price averaged $4.24 per gallon and the on-highway diesel price averaged $5.13 on March 21, 2022. Both prices had peaked the week before, on March 14, after rising about 22% and 29% respectively over three weeks.
The three-week rises were the fastest on a percentage basis in the EIA's data series.
Diesel is a major input cost for feed delivery and grain hauling, so the post-peak dip gives only slight relief. Prices remain near record highs, keeping pressure on freight and feed-mill operating costs.
eia.govMar 23, 2022After 86 past bearish report events, 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.
