Weekly Fuel Report -- Farm Diesel Corrects, Highway Fuels Slightly Lower

March 20, 2013 04:39 AM
 

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National gasoline prices fell $0.014 to a national average of $3.696 during the report week. Farm diesel pricing mostly stayed put and highway diesel moved lower across the board for the second consecutive week.

Farm Diesel --

Farm diesel moved two cents lower in the Inputs Monitor Regional Index last week to $3.62. Most of these moves were corrective as in the case of Missouri which added 13 cents two weeks ago and then fell 15 cents this week to end up two cents below pricing from three weeks ago. A number of locations remained unchanged and all other locations -- except Illinois -- moved lower during the week.

The least expensive farm diesel in the Midwest right now is reported in Missouri at $3.46/gallon while the high mark is in place in Michigan where a gallon of ruby red goes for $3.78.

Look for farm diesel pricing to wait out the rest of winter at-or-near current pricing levels as distillate fuel for home heat and power generation continue to drawdown on the national distillate supply. But last week saw additions to the total distillate supply and that may signal winter's grip is starting to loosen. This would free up more of the distillate supply for farm diesel production, offering some downside room in May. But a demand spike on the farm could create a temporary seller's market at the open of the Midwest application season and raise prices slightly for a short period.

Farm Diesel 3/12/13
Three Weeks Ago
Previous Week
Current Week
Change
Iowa
$3.65
$3.62
$3.61
-$0.01
Illinois
$3.83
$3.82
$3.82
unchanged
Indiana
$3.61
$3.69
$3.76
+$0.07
Wisconsin
$3.71
$3.66
$3.66
unchanged
Minnesota
$3.63
$3.65
$3.61
-$0.04
South Dakota
$3.64
$3.68
$3.67
-$0.01
North Dakota
$3.42
$3.67
$3.66
-$0.01
Nebraska
$3.48
$3.50
$3.47
-$0.03
Missouri
$3.48
$3.61
$3.46
-$0.15
Kansas
$3.45
$3.48
$3.48
unchanged
Ohio
$3.37
$3.57
$3.57
unchanged
Michigan
$3.78
$3.79
$3.78
-$0.01
Midwest Average
$3.58
$3.64
$3.62
-$0.02

Gasoline-

Average national retail price for regular gasoline fell $0.014 to $3.696 per gallon -- $0.171 below year-ago prices.

East Coast gasoline down another $0.036 to $3.690; Midwest posted the only upward motion, adding $0.027 to $3.645; Gulf Coast $0.020 lower to $3.522; Rocky Mountain gasoline unchanged at $3.469, and the West Coast posts a $0.042 decline to $4.007.

Highway Diesel --

National average price for highway diesel $0.041 lower nationwide, ending the report week at $4.047 -- $0.095 below year-ago.eialogo

East Coast $0.038 lower to $4.082; Midwest highway diesel down $0.028 to $4.015; Gulf Coast $0.047 lower to $3.989; Rocky Mountain regional diesel falls $0.039 to $3.971, and West coast regional diesel down $0.065 to end the week at $4.162.


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