# Diesel market in perfect storm as prices surge and supplies dwindle

> Diesel prices rose about 33% for November deliveries in late October 2022, with reserves at their lowest since 1951, concentrated in the Northeast. A drought on the Mississippi River was pushing product onto rail and trucks, and a possible rail strike added to supply concern. The article also cited the coming ban on Russian product and calls for government intervention.

- Date: 2022-10-30 · published 2022-10-30T12:00:00.000Z
- Category: logistics · region US · magnitude high
- Page: https://feedsoft.ai/events/7921-diesel-market-in-perfect-storm-as-prices-surge-and-supplies-dwindle
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Low river levels raise freight costs and restrict barge movement of grain and fuel, which constrains soybean and grain exports and pressures farm margins. Higher diesel and fertilizer costs also raise the cost of running farms.

## Read by commodity

- SOY: bearish ▼
- BARGE: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-09-18 | [Shipping market: The good, bad and ugly \| World Grain](https://feedsoft.ai/events/16764-shipping-market-the-good-bad-and-ugly-world-grain.md) | +1.1% | -1.2% |
| SOY | 2023-09-07 | [Barge rates pressured by low Mississippi River water levels \| Supply Chain Dive](https://feedsoft.ai/events/34291-barge-rates-pressured-by-low-mississippi-river-water-levels-supply-chain-dive.md) | -1.8% | -6.4% |
| SOY | 2020-01-15 | [Panama Canal adds fees, changes booking as it fights drought \| Supply Chain Dive](https://feedsoft.ai/events/54986-panama-canal-adds-fees-changes-booking-as-it-fights-drought-supply-chain-dive.md) | -1.6% | -3.9% |
| SOY | 2017-08-31 | [Market Perspectives August 31, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/69349-market-perspectives-august-31-2017-page-9-of-10-u-s-grains-and-bioproducts.md) | +4.4% | +4.0% |
| SOY | 2018-08-30 | [Market Perspectives - August 30, 2018 - Page 9 of 11 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/63426-market-perspectives-august-30-2018-page-9-of-11-u-s-grains-and-bioproducts.md) | +0.4% | +3.9% |
| DIESEL | 2026-10-13 | [Diesel Prices & Freight Trends: What’s Driving the Market in Q4?](https://feedsoft.ai/events/17232-diesel-prices-and-freight-trends-what-s-driving-the-market-in-q4.md) | +1.8% | — |
| DIESEL | 2026-04-29 | [Surge in Diesel Prices Tightens U.S. Trucking Capacity \| SupplyChainBrain](https://feedsoft.ai/events/19894-surge-in-diesel-prices-tightens-u-s-trucking-capacity-supplychainbrain.md) | +1.7% | -9.2% |
| DIESEL | 2021-02-18 | [Diesel fuel in short supply in Texas; prices on the rise - FreightWaves](https://feedsoft.ai/events/48825-diesel-fuel-in-short-supply-in-texas-prices-on-the-rise-freightwaves.md) | +4.0% | +3.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/10/30/diesel-market-in-perfect-storm-as-prices-surge-and-supplies-dwindle.html
- cnbc.com: https://www.cnbc.com/amp/2022/10/30/diesel-market-in-perfect-storm-as-prices-surge-and-supplies-dwindle.html

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