Gasoline and Diesel Weekly: Farm Diesel Pricing Suggests Seasonal Low

July 10, 2013 04:27 AM
 

Farm Diesel -- nozzle

Farm diesel moved 4 cents lower during the report week to $3.361/gallon according to Inputs Monitor data with two of the twelve states in our Index unchanged. The price at the same time last year was $3.17 -- 19 cents below today's price.

Wisconsin led decliners by dropping 14 cents to $3.23 prompting an alert to book a portion of farm diesel in that state. Missouri shucked 13 cents from the statewide average price to $3.22, and Ohio rounds out the top three decliners softening 8 cents to $3.33/gallon.

There were no gains week-over to report as all farm diesel pricing fell. The closest thing to a gain comes from Illinois and Michigan, both of which are unchanged, but both are above the current regional average suggesting downside room for farm diesel in Michigan and Illinois.

This same week last year marked the first week-over increase, and the uptrend continued from there up to $3.78 before falling again in December. We expect farm diesel pricing to begin to inflate, and follow last year's pattern. We are recommending you take a look at your local pricing, and if the price is right, go ahead and get some of that farm diesel booked.

Farm Diesel 7/8/13
Three Weeks Ago
Previous Week
Current Week
Change
Iowa
$3.32
$3.28
$3.27
-$0.01
Illinois
$3.45
$3.45
$3.45
unchanged
Indiana
$3.49
$3.51
$3.50
-$0.01
Wisconsin
$3.37
$3.37
$3.23
-$0.14
Minnesota
$3.45
$3.43
$3.41
-$0.02
South Dakota
$3.34
$3.37
$3.34
-$0.03
North Dakota
$3.56
$3.56
$3.54
-$0.02
Nebraska
$3.27
$3.27
$3.26
-$0.01
Missouri
$3.35
$3.35
$3.22
-$0.13
Kansas
$3.31
$3.30
$3.27
-$0.03
Ohio
$3.49
$3.41
$3.33
-$0.08
Michigan
$3.53
$3.52
$3.52
unchanged
Midwest Average
$3.410
$3.401
$3.361
-$0.04

 

Gasoline-

The retail price for regular gasoline fell 1/4 cent during the report week to a national average of $3.492.

East Coast gasoline fell $0.007 to $3.456; Midwest pricing is the only increase, but the only site below the same time last year, adding 1 cent over the week to $3.409; Gulf coast down 1 3/4 cents to $3.295; Rocky Mountain region falls 3 cents to $3.610 and West Coast gasoline 1 3/4 cents lower to $3.875.

Highway Diesel --

The national average price of highway diesel was up slightly, adding $0.011 to $3.828 -- 14 1/2 cents above year-ago.

East Coast highway diesel added 1 1/2 cents to $3.831; Midwest adds 1/2 cent to $3.821; Gulf coast up 2 cents to $3.753; Rocky Mountain diesel down 3/4 cents to $3.811 and West Coast highway diesel up 1 cent to $3.951.


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