Diesel Strength Returns to Racks; Gasoline Up Modestly


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. wholesale ultra-low sulfur diesel (ULSD) rack 
prices turned higher across all five PADDs Wednesday (9/23), while conventional 
gasoline held nearly unchanged nationally as diesel supply concerns remained in 
focus.

   Nationwide ULSD rack prices averaged $5.3183 gallon, up 2.78cts from the 
previous trading session's $5.2905 gallon, according to DTN data.

   Conventional unleaded gasoline rack prices averaged $3.5644 gallon, down 
0.05ct from the previous day's $3.5650 gallon.

   The firmer diesel racks came as energy markets continued to assess 
developments surrounding the U.S.-Iran conflict. The first shuttle talks 
between the two sides in months raised hopes for progress on Wednesday, 
although uncertainty over Middle East energy flows and access through the 
Strait of Hormuz remained.

   Adding another layer of uncertainty to the diesel market, U.S. Treasury 
Secretary Scott Bessent said the administration was evaluating whether a full 
or partial ban on U.S. diesel exports would be feasible after President Donald 
Trump backed the idea Tuesday as a way to bolster domestic supply.

   NYMEX WTI traded near $90.84 bbl Wednesday morning, up $0.33 on the day. 
Front-month New York Harbor ULSD rose 2.84cts to $4.9705 gallon, while RBOB 
gasoline advanced 6.88cts to $3.5563 gallon.

   Refining margins remained especially strong for distillates. The diesel 
crack climbed back up, to about $117.69 bbl, rising $0.64 on the day. The 
gasoline crack strengthened by $2.59 to around $58.55 bbl.

   ULSD racks increased across all five PADDs. Rocky Mountain values posted the 
largest advance, rising 5.49cts to $5.5447 gallon, followed by West Coast 
prices, which gained 4.68cts to $5.7938 gallon. Midwest ULSD increased 3.48cts 
to $5.3690 gallon, Gulf Coast values rose 2.62cts to $5.1609 gallon and East 
Coast prices added 0.91ct to $5.1122 gallon.

   PADD 5 maintained the widest ULSD premium to the national average at 
47.55cts, while PADD 1 held the largest discount at 20.61cts.

   Gasoline racks were mostly softer despite stronger RBOB futures. Midwest 
values posted the largest decline, falling 0.89ct to $3.3729 gallon. Rocky 
Mountain prices fell 0.82ct to $4.1035 gallon, Gulf Coast gasoline declined 
0.57ct to $3.3950 gallon and East Coast values slipped 0.11ct to $3.3672 
gallon. West Coast gasoline was the exception, rising 2.34cts to $4.3210 gallon.

    

   
 




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