Diesel Dips Three Weeks Running, But Futures Signal Price Recovery Ahead

Key Details The DOE/EIA benchmark diesel price fell 5.2 cents per gallon to $5.351/g this week, marking the third consecutive weekly decline. Over the past three weeks, drivers have seen prices drop 29.2 cents per gallon from the recent high of $5.643/g posted April 6. Why It Matters This benchmark price directly affects the fuel surcharges applied to your loads. While the recent pullback provides temporary relief at the pump, market signals suggest this downtrend may be ending soon. Futures prices are moving higher, and AAA reported the first price increase in over two weeks today. What's Ahead Ultra low sulfur diesel (ULSD) futures climbed back above the $4/gallon mark this week after dipping following ceasefire announcements. The futures market suggests the benchmark price published Tuesday could represent a bottom for this cycle. Middle East stability concerns have faded, but rising futures indicate upward pressure is building. Monitor your fuel budgets closely as the market momentum shifts. Context The current price remains well below the all-time DOE/EIA record of $5.81 set in June 2022. Talk of extreme $200 per barrel crude has subsided as markets stabilize.