# DOE/EIA diesel price makes small move as key commodity market soars then falls - FreightWaves

> The DOE/EIA retail diesel benchmark moved only slightly in late October 2022, while ULSD November futures swung sharply during expiry. The moves were attributed to a short squeeze as traders with short positions were forced to cover. The benchmark stayed about 50 cents below its June all-time high.

- Date: 2022-10-31 · published 2022-10-31T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7917-doe-eia-diesel-price-makes-small-move-as-key-commodity-market-soars-then-falls
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Expiry-driven squeezes amplify futures volatility but do not change underlying supply, so retail diesel and freight surcharges move far less. Buyers should look at fundamentals rather than expiry spikes.

## Read by commodity

- DIESEL: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2022-11-01 | 1 | -11.6% | -4.0 | The expiry-driven short squeeze inflated November ULSD futures, and the unwind of that squeeze set up the sharp reversal. |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/doe-eia-diesel-price-makes-small-move-as-key-commodity-market-soars-then-falls

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.