For the fourth consecutive week, the benchmark price for diesel surcharges has increased, rising 3.1 cents/gallon to $3.868/gallon. This marks a 24.8 cent increase over the last four weeks, reaching a level not seen since July 2024. The growing spread between diesel and gasoline prices is highlighting the strength of diesel in the market, with the DOE/EIA average weekly gasoline price now 92.9 cts/g less than diesel. Despite a bearish supply/demand scenario, recent oil price hikes are being driven by diesel’s strength. The IEA’s estimate of a 440,000 b/d drop in global petroleum supply in October is contributing to the imbalance.

Read more at Yahoo Finance: Four straight weeks of increases in benchmark diesel price