U.S. Rack ULSD Up 30.7cts on Week; Gasoline Mixed
DAVENPORT, FL (DTN) -- Wholesale rack prices for ultra-low sulfur diesel
continued to strengthen Friday (3/20), while conventional unleaded gasoline and
premium grade gasoline were mixed across U.S. regions, as refined product
markets remained volatile amid ongoing Middle East supply concerns, even as the
White House signaled it has options to help cool crude prices.
Nationwide ULSD rack prices averaged $4.1731 gallon, up 8.15cts from
Thursday's $4.0916 gallon and 30.70cts above Friday, March 13, according to DTN
data. Conventional unleaded gasoline rack prices averaged $3.0966 gallon,
little changed, down 0.02cts from Thursday's $3.0968 gallon, but 2.57cts higher
than a week earlier. Premium grade gasoline was mixed on the day, with gains in
most regions and declines on the West Coast.
ULSD racks increased across all regions Friday. The largest rise came in
PADD 5, where prices climbed 12.27cts to $4.9267 gallon. PADD 1 increased
11.35cts to $4.4350 gallon, while PADD 3 rose 9.03cts to $4.2204 gallon. PADD 2
moved 6.59cts higher to $3.7706 gallon, and PADD 4 added 6.22cts to $4.1739
gallon.
Compared with Friday, March 13, ULSD racks were higher in every reported
region. PADD 5 showed the largest increase, up 44.97cts, followed by PADD 1, up
39.96cts. PADD 4 increased 38.12cts, and PADD 3 rose 37.17cts. A week-ago
comparison for PADD 2 was unavailable because distillate data was not available
for March 13.
Relative to the national ULSD rack average of $4.1731 gallon, PADD 5 held
the strongest premium at 75.36cts above the U.S. benchmark, followed by PADD 1
at 26.19cts above the national average. PADD 3 and PADD 4 also traded at slight
premiums, while PADD 2 remained the deepest discount, at 40.25cts below the
benchmark.
On conventional unleaded gasoline racks, the regional picture was mixed
Friday. PADD 4 posted the largest increase, rising 3.84cts to $3.0684 gallon,
followed by PADD 1, up 1.80cts to $2.8652 gallon, and PADD 3, up 1.67cts to
$2.8224 gallon. In contrast, PADD 5 declined 3.57cts to $3.8465 gallon, while
PADD 2 slipped 1.13cts to $2.6374 gallon.
Against Friday, March 13, however, conventional unleaded gasoline remained
higher across all regions. PADD 4 showed the largest week-over-week increase,
up 17.84cts, followed by PADD 5, up 16.59cts, PADD 1, up 11.26cts, PADD 2, up
9.76cts, and PADD 3, up 8.06cts.
Compared with the national conventional unleaded gasoline average of $3.0966
gallon, PADD 5 remained the only region trading at a premium, at 74.99cts above
the U.S. benchmark. All other regions held discounts, led by PADD 2 at 45.92cts
below the national average, followed by PADD 3 at 27.42cts, PADD 1 at 23.14cts
and PADD 4 at 2.82cts below the benchmark.
Premium grade gasoline rack prices were mixed Friday. PADD 4 posted the
largest increase, rising 3.76cts to $3.4961 gallon. PADD 1 increased 1.85cts to
$3.4889 gallon, while PADD 3 moved 1.73cts higher to $3.4743 gallon. PADD 2
edged up 0.62cts to $3.2171 gallon. PADD 5 was the only region lower, falling
2.92cts to $4.2226 gallon.
Compared with a week earlier, premium grade gasoline prices were still
higher across all regions. PADD 4 rose 17.57cts from March 13, while PADD 5
increased 17.51cts. PADD 1 was up 12.07cts, PADD 3 increased 8.51cts, and PADD
2 rose 7.26cts. Premiums to conventional unleaded gasoline were widest in PADD
3 at 65.19cts, followed by PADD 1 at 62.37cts, PADD 2 at 57.97cts, PADD 4 at
42.77cts and PADD 5 at 37.61cts.
Some of the pressure on crude values eased Friday after Treasury Secretary
Scott Bessent said the administration had tools available to temper oil prices,
including the possibility of allowing more Iranian barrels already on water to
reach market and additional releases from strategic reserves. That helped
offset some geopolitical support in futures trading, where front-month NYMEX
ULSD was at $4.3409 gallon, down 0.11cts, while front-month RBOB gasoline
slipped 0.96cts to $3.1175 gallon. WTI crude traded at $95.37 barrel, down
77cts.
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