The weekly retail diesel price published by the Department of Energy’s Energy Information Service rose 4 cents per gallon in the latest published number.
The increase means that the key benchmark number in the trucking sector has now risen 11.9 cents per gallon in the past three weeks, following the trend of a stronger diesel market that dominated November.
Here is some of the key market data of the past week that helped lead to the 4-cent increase:
— West Texas Intermediate crude last week, from the settlement on Nov. 20 through last Friday, rose to $45.53 a barrel, a jump of $3.38 over the course of the week. Crude did decline Monday by 19 cents to $45.34 a barrel.
— Ultra low sulfur diesel on the CME commodity exchange, from the Nov. 20 settlement through the Friday settlement, rose to $1.3805 a gallon, a jump of 9.42 cents over over the course of the week. That is an increase of 7.3%.
— The daily average retail diesel price measured by the DTS.USA data stream in SONAR rose to $2.549 a gallon on Monday from $2.482 a gallon on Nov. 20, That’s up 6.7 cents but the number also includes a 1.7-cent drop posted on Monday.
— The daily ultra low sulfur diesel wholesale rack price rose to $1.523 a gallon on Monday, up from $1.452 on Nov. 20, a gain of just over 8 cents a gallon, according to the ULSDR.USA data feed in SONAR.
More articles by John Kingston
Restaurant grease for renewable diesel in short supply
Diesel buyers have a problem: Capacity to make that fuel is getting cut
Diesel inventories have done something in the US not seen in at least 30 years