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The EIA's weekly retail diesel price rose 40.1 cents to $5.25 per gallon, a record, but wholesale ULSD futures on the CME fell sharply. ULSD had hit a record settlement of $4.4373 and then dropped 97.3 cents after reports of possible ceasefire talks.
The retail price was lagging the drop in futures.
Retail diesel is likely to fall as wholesale futures decline, which could ease freight and feed-delivery costs. Volatility remains high, so the outlook is uncertain.
freightwaves.comJohn KingstonMar 14, 2022Not enough comparable past events yet for a historical read.
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.
