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Gasoline and Diesel Report -- 2/26/2013 -- Now Includes Farm Diesel

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

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National gasoline prices were up week-to-week nationally. For a closer look at why gasoline prices continue to climb despite a domestic boom in crude oil production, click here to view the Monitor's "U.S. Gasoline -- Driven by Crack Spread". On-highway diesel prices also climbed week-to-week. Farm diesel has been moving steadily upward since the last week of January. This report now includes current farm diesel pricing in a table below.

Gasoline-

Average national retail price for regular gasoline increased $0.037 to $3.784 per gallon -- $0.063 above year-ago prices.

East Coast gasoline up $0.049 to $3.799; Midwest region posted the only week-over decline during the week, falling $0.028 to $3.735; Gulf Coast $0.091 higher to $3.624; Rocky Mountain gasoline $0.062 higher to $3.471, and the West Coast posts a $0.080 increase to $4.053.

Highway Diesel --

National average price for highway diesel $0.002 higher nationwide, ending the report week at $4.159 -- $0.108 above year-ago.

East Coast $0.002 higher to $4.201; Midwest highway diesel down $0.011 to $4.121; Gulf Coast $0.013 higher to $4.089; Rocky Mountain regional diesel increases $0.025 to $4.057, and West coast regional diesel down $0.004 to end the week at $4.299.

Farm Diesel --

Farm diesel moved $0.062 higher in the Inputs Monitor Regional Index last week to $3.56.

Winter storms and cooler than expected temps have taken a bite out of the distillate supply in the past few weeks and prices are inching back toward the upside. The only states that didn't see price increases were unchanged. This is a very bullish table for farm diesel and with five states unchanged, implied volatility suggests farm diesel will continue to move higher in the short-run.

Illinois took a huge jump over the report week -- I had to go back and recheck these numbers -- adding $0.37 to $3.79. Michigan and Missouri added $0.09; Iowa adds $0.07; Wisconsin $0.05 higher; Minnesota adds $0.04 and North Dakota moves $0.03 higher.

Farm Diesel 2/26/13 Previous Week Current Week Change
Iowa $3.57 $3.64 +$0.07
Illinois $3.42 $3.79 +$0.37
Indiana $3.54 $3.54 unchanged
Wisconsin $3.66 $3.71 +$0.05
Minnesota $3.56 $3.60 +$0.04
South Dakota $3.48 $3.48 unchanged
North Dakota $3.39 $3.42 +$0.03
Nebraska $3.48 $3.48 unchanged
Missouri $3.39 $3.48 +$0.09
Kansas $3.43 $3.43 unchanged
Ohio $3.37 $3.37 unchanged
Michigan $3.69 $3.78 +$0.09
Midwest $3.49 $3.56 +$0.06

 


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