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The EIA reported that the US national average diesel price fell 2.4 cents to $5.317 per gallon for the week of October 31, 2022, ending three weeks of increases. The average was still up about $1.59 from a year earlier.
West Texas Intermediate was trading near $89 per barrel.
A small weekly decline offers little relief to diesel users, since costs remain far above last year. Diesel and freight surcharges are likely to stay high while inventories are tight.
stage.logisticsmgmt.comLM StaffNov 1, 2022After 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 56 past neutral report events, Crude Oil (WTI) moved a median +0.0% over 5 sessions (50% higher; middle half -2.7% to +2.5%), and +0.8% 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.
