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The average US retail diesel price published by the DOE/EIA rose for a 19th consecutive week to $3.191 a gallon, up 81.9 cents since early November. The increase followed the loss of up to 5 million barrels per day of Gulf Coast refining capacity during February's deep freeze.
Diesel gains had roughly tracked Brent and ULSD futures since the freeze.
Higher diesel costs raise transport and freight expenses for feed delivery and grain logistics, and they add cost pressure to feed production. The pace of refinery restarts will determine whether this upward trend continues.
freightwaves.comJohn KingstonMar 15, 2021Not 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.
