• ITVI.USA
    12,124.580
    -525.260
    -4.2%
  • OTRI.USA
    27.850
    -0.080
    -0.3%
  • OTVI.USA
    12,070.710
    -528.180
    -4.2%
  • TLT.USA
    3.080
    -0.150
    -4.6%
  • TSTOPVRPM.ATLPHL
    2.890
    0.260
    9.9%
  • TSTOPVRPM.CHIATL
    2.930
    -0.150
    -4.9%
  • TSTOPVRPM.DALLAX
    1.280
    0.100
    8.5%
  • TSTOPVRPM.LAXDAL
    3.000
    -0.210
    -6.5%
  • TSTOPVRPM.PHLCHI
    1.750
    0.120
    7.4%
  • TSTOPVRPM.LAXSEA
    3.280
    -0.080
    -2.4%
  • WAIT.USA
    126.000
    5.000
    4.1%
  • ITVI.USA
    12,124.580
    -525.260
    -4.2%
  • OTRI.USA
    27.850
    -0.080
    -0.3%
  • OTVI.USA
    12,070.710
    -528.180
    -4.2%
  • TLT.USA
    3.080
    -0.150
    -4.6%
  • TSTOPVRPM.ATLPHL
    2.890
    0.260
    9.9%
  • TSTOPVRPM.CHIATL
    2.930
    -0.150
    -4.9%
  • TSTOPVRPM.DALLAX
    1.280
    0.100
    8.5%
  • TSTOPVRPM.LAXDAL
    3.000
    -0.210
    -6.5%
  • TSTOPVRPM.PHLCHI
    1.750
    0.120
    7.4%
  • TSTOPVRPM.LAXSEA
    3.280
    -0.080
    -2.4%
  • WAIT.USA
    126.000
    5.000
    4.1%
EnergyFuelNews

DOE/EIA weekly diesel price up 1.1 cents per gallon

The weekly Department of Energy/Energy Information Administration average retail diesel price released Monday, the basis for most fuel surcharges, rose 1.1 cents to $2.383 per gallon.

Here’s a scorecard of some oil price moves in recent days. 

— The DOE/EIA price from a week earlier, $2.382 per gallon, was the lowest DOE/EIA price since August 2016.

— The ultra low sulfur diesel price on the CME commodity exchange between Oct. 30 and Nov. 5, which would have been the primary building blocks for getting to the retail prices surveyed by EIA on Mondays, rose 6.13 cents, to $1.1426 a gallon, up from $1.0813 a gallon.

— But the overall surge in all asset classes Monday, when equities soared, took ULSD up as well, rising 7.41 cents per gallon on that day to $1.2167 per gallon. 

— Wholesale diesel rack prices, which will reflect movements in physical markets on top of what occured in the ULSD price on CME, were sharply higher last week, according to data in SONAR. The ULSDR.HOU price in Houston, a key benchmark, climbed to $1.276 a gallon from $1.172 in just three days, between Nov. 2 and Nov. 5. It fell back to $1.257 on Monday. The price in northern New Jersey made a similar move, climbing to $1.201 Nov. 9 from $1.143 Nov. 2. Those prices will react quickly to the sharp jump Monday in CME prices.

— A key factor in those moves: declines in inventories for distillate and diesel reported by the EIA in its weekly statistical report. ULSD inventories in the U.S. are now the lowest they’ve been since mid-May.

More articles by John Kingston

Diesel buyers have a problem: Capacity to make that fuel is getting cut

Good news for diesel consumers, tough news for oil patch drivers in federal report

Diesel inventories have done something in the US not seen in at least 30 years 

John Kingston

John has an almost 40-year career covering commodities, most of the time at S&P Global Platts. He created the Dated Brent benchmark, now the world’s most important crude oil marker. He was Director of Oil, Director of News, the editor in chief of Platts Oilgram News and the “talking head” for Platts on numerous media outlets, including CNBC, Fox Business and Canada’s BNN. He covered metals before joining Platts and then spent a year running Platts’ metals business as well. He was awarded the International Association of Energy Economics Award for Excellence in Written Journalism in 2015. In 2010, he won two Corporate Achievement Awards from McGraw-Hill, an extremely rare accomplishment, one for steering coverage of the BP Deepwater Horizon disaster and the other for the launch of a public affairs television show, Platts Energy Week.

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