ULSD Racks Rebound as Gasoline Weakness Persists


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. wholesale rack markets were directionally split 
Tuesday (9/29), with ultra-low sulfur diesel (ULSD) rebounding across all five 
PADDs after three consecutive declines while gasoline extended losses across 
every region.

   Nationwide ULSD rack prices averaged $4.9866 gallon, up 3.78cts from the 
prior session's $4.9488 gallon, DTN data showed.

   Conventional unleaded gasoline rack prices averaged $3.3860 gallon, down 
4.94cts from Monday's $3.4354 gallon.

   The divergent rack moves came as energy markets continued to assess renewed 
diplomatic efforts aimed at ending the U.S.-Iran conflict. U.S. and Iranian 
officials have been holding separate discussions with regional mediators, 
although uncertainty surrounding Middle East energy flows remains.

   NYMEX WTI traded near $91.67 bbl Tuesday morning, little changed on the day. 
Front-month New York Harbor ULSD fell 8.71cts to $4.4082 gallon, while RBOB 
gasoline declined 3.82cts to $3.1196 gallon.

   Refining margins also weakened. The diesel crack fell $3.11 to around 
$104.09 bbl, while the gasoline crack declined $1.60 to about $45.97 bbl.

   Despite softer futures and refining margins, ULSD racks increased across all 
five PADDs. Midwest values posted the largest advance, rising 5.17cts to 
$5.0218 gallon, followed by Gulf Coast prices, which gained 4.90cts to $4.8354 
gallon. West Coast ULSD rose 3.37cts to $5.2995 gallon, Rocky Mountain values 
increased 2.50cts to $5.3247 gallon and East Coast prices added 2.23cts to 
$4.8543 gallon.

   PADD 5 maintained the widest ULSD premium to the national average at 
31.29cts, while PADD 3 held the largest discount at 15.12cts.

   Gasoline racks moved in the opposite direction, declining across all five 
regions for a second straight day.

   Midwest values posted the largest drop, falling 8.66cts to $3.1056 gallon, 
followed by Rocky Mountain prices, which declined 8.34cts to $3.8911 gallon. 
Gulf Coast gasoline fell 4.49cts to $3.2137 gallon, East Coast values dropped 
3.78cts to $3.2055 gallon and West Coast prices slipped 0.99ct to $4.2634 
gallon.

   PADD 5 maintained the largest gasoline premium to the national average at 
87.74cts, while PADD 2 held the widest discount at 28.04cts.




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