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EIA data showed US retail diesel fell 3.5 cents to $3.282/gallon for the week ended November 19, the fifth straight weekly decline. Gasoline fell 7.5 cents nationally, and retail prices followed sharp drops in WTI and diesel futures that week.
Falling diesel and crude prices lower fuel and freight costs for feed mills and grain haulers, easing transport expenses into feed prices.
fuelsmarketnews.comDr. Nancy YamaguchiNov 21, 2018After 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 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% 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.
Notes that retail prices followed sharp drops in WTI and diesel futures that week, corroborating the futures decline, though retail data lags.
