U.S. Rack Diesel Rises 5.25cts Despite Oil Decline


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. wholesale rack prices for ultra-low sulfur 
diesel (ULSD) rebounded Wednesday (11/4), while gasoline edged higher, despite 
declining crude oil and refined product futures as the market assessed the 
implications of the U.S. midterm elections and renewed diplomatic efforts to 
end the Middle East conflict.

   Nationwide ULSD rack prices increased 5.25cts to $5.0504 gallon from 
Tuesday's revised $4.9979 gallon, according to DTN data. Conventional unleaded 
gasoline edged up 0.31ct to $2.9649 gallon from $2.9617 gallon, following 
Tuesday's sharp 22.72cts decline.

   Oil futures remained under pressure as Democrats secured control of Congress 
in Tuesday's midterm elections, raising questions about President Donald 
Trump's foreign policy agenda and the direction of U.S. involvement in the 
conflict with Iran.

   Attention also turned to Qatar's efforts to facilitate renewed negotiations 
between Washington and Tehran, with the possibility of reduced hostilities 
tempering concerns over disruptions to Middle Eastern oil shipments. However, 
uncertainty surrounding regional energy infrastructure and shipping routes 
continued to influence petroleum markets.

   WTI futures fell $1.86 to $94.25 bbl, while NYMEX ULSD declined 7.13cts to 
$4.4602 gallon. RBOB gasoline dropped 5.42cts to $2.8813 gallon.

   Refining margins weakened, with the diesel crack falling $1.03 to $93.16 
bbl, remaining below the $100 bbl threshold after trading above that level in 
late October. The gasoline crack declined $0.19 to $27.01 bbl.

   Meanwhile, the American Petroleum Institute reported Tuesday that crude 
inventories fell 5.267 million bbl last week, while distillate supplies 
declined 1.192 million bbl. Gasoline stocks increased 1.427 million bbl, 
presenting a mixed supply picture ahead of Wednesday's Energy Information 
Administration report.

   Diesel rack prices increased in four PADDs, led by the Gulf Coast, up 
8.92cts to $4.9167 gallon. West Coast ULSD rose 5.57cts to $5.4983 gallon, 
while East Coast prices advanced 4.23cts to $4.8694 gallon.

   Gasoline rack prices were mixed, with East Coast prices climbing 2.1cts to 
$2.8937 gallon, while Rocky Mountain gasoline fell 1.83cts to $3.1927 gallon.




(c) Copyright 2026 DTN, LLC. All rights reserved.