U.S. Rack ULSD Up 17.9cts Since Friday; Gasoline Higher


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Wholesale rack prices for ultra-low sulfur diesel and 
gasoline moved higher Monday (3/23), extending last week's increases as refined 
product markets remain highly volatile, with participants continuing to monitor 
developments tied to the Middle East.

   Nationwide ULSD rack prices averaged $4.3523 gallon, up 17.92cts from 
Friday's $4.1731 gallon, according to DTN data. Conventional unleaded gasoline 
rack prices averaged $3.2813 gallon, up 18.47cts from Friday's $3.0966 gallon. 
Premium grade gasoline also increased across all regions.

   ULSD racks increased across all regions on Monday. The largest move came in 
PADD 5, where prices climbed 27.29cts to $5.1996 gallon. PADD 4 rose 21.41cts 
to $4.3880 gallon, while PADD 2 increased 21.22cts to $3.9453 gallon. PADD 1 
moved 16.65cts higher to $4.6015 gallon, and PADD 3 added 12.22cts to $4.3426 
gallon.

   Relative to the national ULSD rack average of $4.3523 gallon, PADD 5 held 
the strongest premium at 84.73cts above the U.S. benchmark, followed by PADD 1 
at 24.92cts above the national average. PADD 4 traded slightly above the 
benchmark, while PADD 3 was nearly in line, at just 0.97cts below. PADD 2 
remained the deepest discount, at 40.70cts below the national average.

   On conventional unleaded gasoline racks, all regions moved higher on Monday. 
PADD 4 recorded the largest increase, rising 24.13cts to $3.3097 gallon. PADD 5 
climbed 16.09cts to $4.0074 gallon, while PADD 2 increased 16.06cts to $2.7981 
gallon. PADD 3 rose 11.53cts to $2.9377 gallon, and PADD 1 moved 11.18cts 
higher to $2.9770 gallon.

   Compared with the national conventional unleaded gasoline average of $3.2813 
gallon, PADD 5 remained the only region trading at a premium, at 72.61cts above 
the U.S. benchmark. All other regions held discounts, led by PADD 2 at 48.32cts 
below the national average, followed by PADD 3 at 34.36cts, PADD 1 at 30.43cts 
and PADD 4 at 2.84cts above the benchmark.

   Premium grade gasoline rack prices increased across all regions Monday. PADD 
4 posted the largest increase, rising 23.99cts to $3.7360 gallon. PADD 2 
increased 15.70cts to $3.4366 gallon, while PADD 5 rose 15.94cts to $4.3820 
gallon. PADD 3 climbed 11.73cts to $3.5916 gallon, and PADD 1 moved 11.53cts 
higher to $3.6042 gallon. Premiums to conventional unleaded gasoline were 
widest in PADD 3 at 65.39cts, followed by PADD 1 at 62.72cts, PADD 2 at 
63.85cts, PADD 4 at 42.63cts and PADD 5 at 37.46cts.

   Futures prices moved lower Monday. Front-month May NYMEX ULSD futures were 
at $4.0133 gallon, down 22.92cts, while May RBOB gasoline futures fell 19.80cts 
to $3.0339 gallon. WTI crude declined $7.44 to $90.49 barrel.

   The decline in futures followed comments from U.S. President Donald Trump 
indicating that the United States and Iran were engaged in diplomatic 
negotiations, and that planned attacks on Iranian energy infrastructure had 
been postponed, easing immediate supply concerns.

   Market participants continued to monitor developments tied to the Middle 
East, as rapidly shifting geopolitical signals keep both crude and refined 
product markets highly volatile.




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