Rack Gasoline Tumbles 16.36cts; ULSD Slide Extends


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Volatility from the prior week extended for the U.S. 
fuel rack Monday (9/28) as wholesale gasoline prices fell sharply across all 
five PADDs while ultra-low sulfur diesel (ULSD) declined for a third 
consecutive session even as crude oil and product futures rebounded.

   Nationwide conventional unleaded gasoline rack prices averaged $3.4354 
gallon, down 16.36cts from Friday's $3.5990 gallon, according to DTN data.

   ULSD rack prices averaged $4.9375 gallon, down 4.65cts from the previous 
trading session's $4.9839 gallon.

   The rack declines contrasted with a stronger futures market Monday after 
U.S. President Donald Trump rejected an Iranian proposal aimed at ending the 
conflict, reducing expectations for an immediate diplomatic resolution.

   NYMEX WTI traded near $95.70 bbl Monday morning, up $3.28 on the day. 
Front-month New York Harbor ULSD advanced about 3.4cts to $4.8841 gallon, while 
RBOB gasoline rose 4.43cts to $3.4377 gallon.

   Refining margins also strengthened for distillates. The diesel crack climbed 
about $5 to $109.36 bbl, while the gasoline crack weakened $1.33 to around 
$48.64 bbl.

   Gasoline racks fell across all five regions. Gulf Coast values posted the 
largest decline, dropping 18.21cts to $3.2587 gallon, closely followed by East 
Coast prices, which fell 17.83cts to $3.2433 gallon. West Coast gasoline 
declined 15.52cts to $4.2732 gallon, Midwest values dropped 14.35cts to $3.1922 
gallon and Rocky Mountain prices fell 11.34cts to $3.9745 gallon.

   PADD 5 maintained the largest gasoline premium to the national average at 
83.78cts, while PADD 2 held the widest discount at 24.32cts.

   ULSD racks also declined across all five PADDs. West Coast values posted the 
largest drop, falling 14.04cts to $5.2658 gallon. Gulf Coast prices fell 
5.47cts to $4.7864 gallon, East Coast ULSD declined 2.19cts to $4.7954 gallon, 
Midwest values slipped 1.66cts to $4.9701 gallon and Rocky Mountain prices 
edged down 0.98ct to $5.2997 gallon.

   PADD 5 maintained the widest ULSD premium to the national average at 
32.83cts, while PADD 3 held the largest discount at 15.11cts.

    




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