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The US average retail diesel price rose 0.9 cents to $2.605 a gallon, its first move above $2.60 in more than two years. The increase followed Hurricane Harvey's damage to Texas Gulf Coast oil production and refineries.
Diesel is trucking's main fuel, so a rising retail price raises freight costs for feed delivery. Experts expected prices to climb further while refinery outages persisted.
ttnews.comRoger GilroyAug 28, 2017After 39 past bullish weather events, ULSD / Diesel moved a median +2.4% over 5 sessions (59% higher; middle half -4.5% to +6.1%), and +8.9% over 20.
After 13 past neutral weather events, Crude Oil (WTI) moved a median +2.3% over 5 sessions (62% higher; middle half -0.9% to +4.7%), and +6.1% 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.
