# Commodities: Gasoline drops for Labor Day

> Gasoline prices dropped more than 13 cents per gallon in the week of Labor Day as the summer driving season ended. The decline followed a Department of Energy report that showed crude, gasoline and diesel stockpiles all rising sharply above expectations. Cattle prices also fell to a five-year low of $1.02 per pound on expectations of weaker grilling demand.

- Date: 2016-09-02 · published 2016-09-02T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/8590-commodities-gasoline-drops-for-labor-day
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Larger-than-expected fuel inventories and seasonal demand decline push energy prices lower, which feeds into diesel and freight costs. Lower corn costs also support cattle feeding margins, though cattle prices remain under pressure.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼
- LCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| LCATTLE | 2016-09-06 | 5 | -7.0% | -3.6 | Cattle fell to a five-year low on weaker grilling demand expectations after Labor Day, a modest demand-sentiment contribution. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-11-21 | [Diesel Drops 2.7¢ to $2.443; Gasoline Falls 4.9¢ to $2.184 - TT](https://feedsoft.ai/events/74015-diesel-drops-2-7-to-2-443-gasoline-falls-4-9-to-2-184-tt.md) | +1.0% | +14.1% |
| WTI | 2020-09-02 | [Oil drops 3% to one-month low on weak U.S. gasoline demand](https://feedsoft.ai/events/10228-oil-drops-3-to-one-month-low-on-weak-u-s-gasoline-demand.md) | -11.0% | -6.2% |
| WTI | 2022-08-03 | [Oil Plunges to Lowest Since February as US Gasoline Demand Drops](https://feedsoft.ai/events/12802-oil-plunges-to-lowest-since-february-as-us-gasoline-demand-drops.md) | -4.1% | -4.5% |
| WTI | 2024-05-02 | [The Commodities Feed: What goes up, must come down \| articles \| ING THINK](https://feedsoft.ai/events/7234-the-commodities-feed-what-goes-up-must-come-down-articles-ing-think.md) | -0.1% | -1.9% |
| WTI | 2023-10-04 | [Oil settles down more than $5 as US data shows weak demand for gasoline](https://feedsoft.ai/events/7361-oil-settles-down-more-than-5-as-us-data-shows-weak-demand-for-gasoline.md) | -3.7% | -8.8% |
| DIESEL | 2016-11-21 | [Diesel Drops 2.7¢ to $2.443; Gasoline Falls 4.9¢ to $2.184 - TT](https://feedsoft.ai/events/74015-diesel-drops-2-7-to-2-443-gasoline-falls-4-9-to-2-184-tt.md) | +3.7% | +13.7% |
| DIESEL | 2023-10-04 | [Oil settles down more than $5 as US data shows weak demand for gasoline](https://feedsoft.ai/events/7361-oil-settles-down-more-than-5-as-us-data-shows-weak-demand-for-gasoline.md) | -5.7% | -7.3% |
| DIESEL | 2019-05-30 | [EIA Gasoline and Diesel Retail Prices Update, May 29, 2019 - Fuels Market News](https://feedsoft.ai/events/10407-eia-gasoline-and-diesel-retail-prices-update-may-29-2019-fuels-market-news.md) | -9.9% | -0.1% |

## Sources

- greenbaypressgazette.com: https://www.greenbaypressgazette.com/story/money/2016/09/02/commodities-gasoline-drops-labor-day/89777788/

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