Business & Investment

DOE / EIA Diesel price rise. Best since 2018

The Department of Energy / Energy Information Agency’s weekly diesel price rises for the third straight week have risen beyond what was at the end of the record 20-week higher figure run.

The price announced on Monday was $ 3.249 a gallon, up 6.3 cents. After the 20-week price increase that ended on March 23, the DOE / EIA price was $ 3.1941 a gallon.

This week’s numbers are the highest prices since November 2018.

Ultra-low-sulfur diesel prices on the CME Commodity Exchange last week rose by about 2 cents per gallon in a week. However, wholesale prices have skyrocketed in some areas that have been hit hard by the outage of Colonial Pipeline.

For example, according to SONAR’s ULSDR.ATL data series, Atlanta’s ultra-low-sulfur diesel price was $ 2.05 per gallon on the day the colonial outage was announced. By Thursday, it had reached $ 2.18 a gallon before returning to $ 2.156 a gallon on Monday.

For more information on FreightWaves SONAR, please visit: here.

Regional data from EIA showed the difference. For example, diesel prices in the so-called low Atlantic, which covers the southeast, rose 7.9 cents a gallon. The Gulf Coast rose 6.1 cents. However, areas in the Rocky Mountains region that were unaffected by what happened in the colonial rose by only 5.4 cents. California rose 2.1 cents.

CME’s relatively tame price increases partially reflect the fact that it is the current contract for products delivered to New York Harbor in June, long after the colonial outage became a problem. ..

However, diesel continues to outpace crude oil. The spread between ULSD and benchmark Brent crude on Monday was 17.07 cents a gallon. It’s less than it was at the beginning of last week. But before breaking that 17-cent figure last week, spreads haven’t been above that level since the end of March 2020.

Other articles by John Kingston

Excavate deeply: Diesel in the wake of the colonial era.Keybanc Fowler for the first quarter

Jobs report shows that getting drivers into the pool is still a struggle

A bright red renewable diesel that encourages producers to buy into the upstream supply chain

DOE / EIA Diesel price rise. Best since 2018 DOE / EIA Diesel price rise. Best since 2018

Back to top button