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The EIA reported that retail gasoline fell 5.2 cents and diesel fell 4.0 cents to $3.121 per gallon for the week ended December 17, the ninth consecutive weekly decline. WTI futures had fallen to their lowest level since July 2016.
Retail prices are expected to keep falling if crude continues its downward trend.
Continued declines in retail diesel lower transport costs for feed mills and farms. The trend depends on crude futures, which have been falling sharply.
fuelsmarketnews.comDr. Nancy YamaguchiDec 18, 2018After 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.
