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Record US diesel prices are being driven by several overlapping factors, according to Matt Wells of the Mid-West Truckers Association. He cites drawn-down fuel reserves, the temporary shutdown of two California refineries and a Joliet refinery, and Ukrainian strikes that damaged Russian refineries.
He expects higher fuel costs to pass through to farmers and consumers and does not foresee a quick decline in prices.
Refinery outages and depleted reserves tighten diesel supply, raising farm and freight operating costs and pressuring feed-buyer margins. Elevated diesel prices are likely to persist until refining and reserve capacity is rebuilt.
sfntoday.comNov 12, 2026After 105 past bullish macro events, ULSD / Diesel moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% 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.
