Gasoline and Diesel Weekly -- Soft Demand Fuels More Declines

April 30, 2013 04:55 AM
 

nozzle

U.S. fuels all declined nationally including farm diesel, gasoline and highway diesel. Strong domestic crude production and increasing distillate stocks are limiting upside potential. Consumer demand remains very soft, and most prices, although falling, are still above $3.45, which we recognize as a strong psychological mark for motorists. (read the Monitor's 'AAA: How Gasoline Prices Affect Consumer Decisions' if you missed it last week)

Farm Diesel --

Farm diesel moved just a tick lower, falling $0.029 to $3.473/gallon in this week's Inputs Monitor Index. As farmers find sparse windows of good weather, farm diesel demand has remained flat and steady.

Half of the states in the Index are unchanged week-over and the other half fell. The one exception was a 4 cent increase in Michigan to $3.55/gallon. Ohio has been at the same price for three weeks now, unchanged at $3.42. Iowa, Minnesota and Kansas have all declined in each of the last three weeks.

South Dakota farm diesel made a splash, falling 22 cents to $3.42 -- a full nickel below the regionwide average. Kansas softened another dime to $3.32, marking the cheapest farm diesel in our Index. Consider topping off in South Dakota and Kansas.

Farm Diesel 4/24/13
Three Weeks Ago
Previous Week
Current Week
Change
Iowa
$3.48
$3.38
$3.37
-$0.01
Illinois
$3.48
$3.50
$3.50
unchanged
Indiana
$3.76
$3.70
$3.70
unchanged
Wisconsin
$3.59
$3.55
$3.55
unchanged
Minnesota
$3.54
$3.44
$3.40
-$0.04
South Dakota
$3.63
$3.64
$3.42
-$0.22
North Dakota
$3.66
$3.67
$3.65
-$0.02
Nebraska
$3.46
$3.39
$3.39
unchanged
Missouri
$3.34
$3.41
$3.41
unchanged
Kansas
$3.44
$3.42
$3.32
-$0.10
Ohio
$3.42
$3.42
$3.42
unchanged
Michigan
$3.57
$3.51
$3.55
+$0.04
Midwest Average
$3.53
$3.502
$3.473
-$0.029

 

Gasoline-

Average national retail price for regular gasoline fell $0.016 to a national average of $3.520 -- 31 cents below year-ago.

East Coast gasoline down $0.022 to $3.458; Midwest posts the only increases again this week adding $0.008 to $3.554; Gulf Coast $0.029 lower to $3.295; Rocky Mountain trails $0.004 to $3.484, and the West Coast moves $0.036 lower to $3.800 even.

Highway Diesel --

National average price for highway diesel moved $0.036 lower nationwide, ending the report week at $3.851 -- $0.222 below year-ago.

East Coast $0.038 lower to $3.886; Midwest highway diesel down $0.029 to $3.839; Gulf Coast $0.045 lower to $3.757; Rocky Mountain regional diesel falls $0.036 to $3.810, and West Coast highway diesel moved $0.041 lower to $3.949.


Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close