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Fuels in Focus: Fuels Run Higher as Holiday Travel Nears

November 26, 2013
By: Davis Michaelsen, Pro Farmer Inputs Monitor Editor

 

  • Farm Diesel softens 2 1/2 cents to an average of $3.375 per gallon.
  • Retail Gasoline firms 7 1/2 cents to a national average of $3.293 per gallon.
  • Highway Diesel fuel firms 2 1/4 cents to $3.844 per gallon.

 

At the open the WTI/Brent crude oil spread widened $2.53 to 16.60 with Jan 14 Brent opening at $110.81 -- up $2.31 on the week -- and WTI at $94.21 -- 22 cents lower than the same time last week.

Home heat will become a concern and as a winter storm moves eastward across the nation, already low distillate supplies will shift from farm diesel production to home heating oil. This may push farm diesel pricing higher. The Dakotas each moved strongly higher this week, but price declines are still more prevalent than increases.

We may look to extend spring coverage on farm diesel next week if prices show signs of turning around. If your state wears a $3.20 handle, consider topping off at current prices and definitely prepare to cover some spring diesel if prices bounce in the coming week or two. Contact your preferred retailer as prices may vary.

Farm Diesel --

Farm diesel moved 2 1/2 cents lower this week to a regionwide average of $3.375 with 2 of the 12 states in our Index unchanged. The biggest move was an 25 cent fall in Wisconsin to $3.26. North Dakota firmed 8 cents to this week's high at $3.54 while South Dakota firmed 15 cents to $3.40.

Farm Diesel 11/26/13
Three Weeks Ago
Previous Week
Current Week
Change
Iowa
$3.35
$3.36
$3.29
-$0.07
Illinois
$3.59
$3.59
$3.50
-$0.09
Indiana
$3.51
$3.53
$3.53
unchanged
Wisconsin
$3.52
$3.51
$3.26
-$0.25
Minnesota
$3.35
$3.35
$3.33
-$0.02
South Dakota
$3.39
$3.25
$3.40
+$0.15
North Dakota
$3.55
$3.46
$3.54
+$0.08
Nebraska
$3.22
$3.22
$3.21
-$0.01
Missouri
$3.31
$3.31
$3.27
-$0.04
Kansas
$3.43
$3.40
$3.32
-$0.08
Ohio
$3.37
$3.37
$3.37
unchanged
Michigan
$3.48
$3.48
$3.49
+$0.01
Midwest Average
$3.422
$3.402
$3.375
- 2 1/2 cents

 

Gasoline-

The retail price for regular gasoline firmed 7 1/2 cents during the report week to a national average of $3.293 -- 14 1/2 cents below year-ago. The East Coast firmed 10 1/2 cents to $3.386; Midwest retail gasoline up 6 1/2 this week to $3.191/gallon; Gulf Coast up 13 1/2 to $3.140; Rocky Mountain region down 3 3/4 cents to $3.145 and the West Coast moved a full dime lower to $3.457, according to EIA data.

Highway Diesel --

The national average price of highway diesel firmed 2 1/4 cents to a national average of $3.844 -- 19 cents below year-ago. All locations reporting diesel prices firmed on the week with the exception of the West coast which is unchanged. East Coast 3 cents higher to $3.870/gallon; Midwest 3 1/2 cents higher to $3.829; Gulf Coast highway diesel up 3/4 cent to $3.753; Rocky Mountain region up only slightly, adding 0.001 cent at $3.837 and the West Coast unchanged at $3.954/gallon, according to EIA.


Highway fuel data credit: EIA.

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