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The EIA reported average US on-highway diesel rose 0.7 cents to $2.577 per gallon, the third straight weekly gain. Prices are up 58.8 cents year over year, and WTI crude averaged $53.56 per barrel.
Diesel is a major input cost for feed hauling and trucking, so rising fuel costs raise delivered feed prices, though the weekly moves are small.
stage.logisticsmgmt.comJeff BermanFeb 28, 2017After 109 past bullish report events, ULSD / Diesel moved a median +0.2% over 5 sessions (51% higher; middle half -3.3% to +3.9%), and +0.3% over 20.
After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% 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.
