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Fuels in Focus: Gasoline Wraps-up Hat Trick of Declines

October 28, 2013
By: Davis Michaelsen, Pro Farmer Inputs Monitor Editor

  • Farm Diesel softens 1 3/4 cents to an average of $3.449 per gallon.
  • Retail Gasoline softens 6 3/4 cents to $3.32 per gallon.
  • Highway Diesel fuel softens 1 3/4 cents to $3.36 per gallon. farm porn 080

 

At the open the WTI/Brent crude oil spread narrowed a dime to 9.29 with Brent opening at $107.17 and WTI at $97.88. As the war premium loosed its grip on WTI, the December contract remains below psychological $100, but has edged higher since the open today. However, strong domestic stocks of crude oil and gasoline have led to welcome declines in retail gasoline pricing with some parts of the country sporting a $2 handle.

Be Advised -- Eight states are currently under an Hours of Service Waiver allowing LP drivers to extend hours on the road. These include Minnesota, North Dakota, South Dakota, Iowa, Illinois, Montana, Nebraska and Wisconsin. There may still be time to get ahead of delivery delays if you act now. Click here to view Thursday's LP alert...

Meanwhile, the week's forecast calls for chances of wet weather through the center of the nation with possible snow at the northern fringes. Precipitation this week would increase demand for LP which is already above what some suppliers can keep up with. Delivery delays are expected for another two weeks in some parts.

Farm Diesel --

Farm diesel moved 1 3/4 cents lower this week to a regionwide average of $3.449 with just one of the 12 states in our Index unchanged. The biggest move was a 20 cent increase in Nebraska to $3.55. Ohio fell 12 cents to $3.37 leaving Illinois with the highest priced highway diesel in our survey at $3.59/gallon.

Farm Diesel 10/28/13
Three Weeks Ago
Previous Week
Current Week
Change
Iowa
$3.42
$3.41
$3.43
+$0.02
Illinois
$3.57
$3.57
$3.59
+$0.02
Indiana
$3.56
$3.50
$3.49
-$0.01
Wisconsin
$3.56
$3.56
$3.53
-$0.03
Minnesota
$3.49
$3.49
$3.49
unchanged
South Dakota
$3.42
$3.38
$3.40
+$0.02
North Dakota
$3.66
$3.54
$3.57
+$0.03
Nebraska
$3.35
$3.35
$3.55
+$0.20
Missouri
$3.59
$3.44
$3.34
-$0.10
Kansas
$3.33
$3.33
$3.35
+$0.02
Ohio
$3.49
$3.49
$3.37
-$0.12
Michigan
$3.57
$3.53
$3.46
-$0.07
Midwest Average
$3.50
$3.465
$3.449
-$0.01 3/4

 

Gasoline-

The retail price for regular gasoline softened 6 3/4 cents during the report week to a national average of $3.294 -- 27 1/2 cents below year-ago. The East Coast shucked 3 1/2 cents to $3.318; Midwest retail gasoline down 11 3/4 to $3.198/gallon; Gulf Coast down 5 3/4 to $3.072; Rocky Mountain region down 5 3/4 to $3.368 and the West Coast moved 4 3/4 lower to $3.609, according to EIA data.

Highway Diesel --

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