Retail diesel prices increase to $3.536 after surge in diesel futures, oil prices remain steady.

From Yahoo Finance: 2025-05-20 10:14:00

The Department of Energy reported a 6 cent per gallon increase in the average weekly retail diesel price, reaching $3.536, the largest jump since January. ULSD futures on CME rose from $1.9766 to $2.1713 before settling at $2.1277. Despite bearish supply/demand news, oil prices remain steady. The IEA projects slow demand growth and low growth rates through 2026 due to economic headwinds and increased sales of electric vehicles. Global inventories of petroleum products and crude are below the five-year average, contributing to a backwardation structure in the futures market. OPEC+ continues to unwind production cuts despite falling prices, with output essentially unchanged in April.



Read more at Yahoo Finance: After surge in diesel futures price, retail prices catch up, benchmark rises