Gasoline Racks Jump 10.56cts; Diesel Turns Lower


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. wholesale rack markets diverged Friday (10/2), 
with conventional gasoline prices jumping more than 10cts nationally while 
ultra-low sulfur diesel (ULSD) fell across four of the five PADDs.

   Nationwide conventional unleaded gasoline rack prices averaged $3.5296 
gallon, up 10.56cts from Thursday's $3.4239 gallon, according to DTN data. ULSD 
rack prices moved in the opposite direction, averaging $5.1029 gallon, down 
3.20cts from the previous trading session's $5.1349 gallon.

   The split in rack prices came as broader energy markets weakened Friday 
morning following reports that European Union governments were discussing a 
proposal to release 50 million bbl of diesel from emergency inventories, 
alongside a potential 50 million bbl crude oil release by International Energy 
Agency members. The discussions added a fresh supply consideration to a market 
that has remained focused on elevated fuel prices and tight distillate 
availability.

   Against that backdrop, NYMEX WTI fell $3.57 to around $89.30 bbl Friday 
morning, while front-month New York Harbor ULSD dropped 15.10cts to $4.4910 
gallon. The weakness also extended into refining margins, with the diesel crack 
falling $2.72 to $99.30 bbl, slipping below $100 for the first time since 
September 8, when it ended the day at $98.81 bbl. The gasoline crack declined 
$1.42 to around $48.62 bbl.

   Despite the softer futures market, gasoline rack prices increased across all 
five PADDs. Midwest values posted the largest advance, jumping 12.93cts to 
$3.3351 gallon, followed by East Coast prices, which rose 11.53cts to $3.3748 
gallon. Gulf Coast gasoline increased 11.39cts to $3.3720 gallon, Rocky 
Mountain values rose 5.57cts to $3.9716 gallon and West Coast prices advanced 
5.37cts to $4.2217 gallon.

   The regional increases kept PADD 5 at the widest gasoline premium to the 
national average at 69.21cts, while PADD 2 held the largest discount at 
19.45cts.

   ULSD racks, meanwhile, reflected more of the weakness seen in futures and 
refining margins, declining in four of the five regions. Midwest values posted 
the largest drop, falling 5.81cts to $5.0470 gallon. East Coast ULSD fell 
4.19cts to $5.0178 gallon, Gulf Coast prices declined 4.14cts to $4.9181 gallon 
and Rocky Mountain values slipped 1.87cts to $5.3876 gallon.

   West Coast ULSD was the lone exception, rising 3.76cts to $5.5317 gallon. 
That left PADD 5 with the widest ULSD premium to the national average at 
42.88cts, while PADD 3 carried the largest discount at 18.48cts.

    




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