U.S. Weekly Rack ULSD Price Falls 32.40cts


   
   DAVENPORT, FL (DTN) -- Wholesale rack prices for ultra-low sulfur diesel 
(ULSD) and gasoline rose Friday (4/10), extending gains from the prior session. 
However,  on a weekly basis, prices posted steep declines as physical markets 
stabilized while futures remained under pressure, reflecting ongoing 
uncertainty around the durability of the Iran ceasefire. 

   Nationwide ULSD rack prices averaged $4.1627 gallon, up 10.04cts from 
Thursday's $4.0623 gallon, according to DTN data. Conventional unleaded 
gasoline rack prices averaged $3.2255 gallon, up 1.30cts from $3.2125 gallon.

   On a week-over-week basis,  ULSD rack prices dropped 32.40cts from $4.4867 
gallon on Friday (4/3), while gasoline fell 18.43cts from $3.4098 gallon over 
the same period. Regionally, weekly diesel and gasoline declines were seen 
across most regions.

   Futures prices were mixed Friday morning as the front-month May NYMEX ULSD 
futures declined 5.48cts to $3.8822 gallon, while May RBOB gasoline futures 
edged up 1.50cts to $3.0157 gallon. WTI crude for May delivery slipped $0.11 to 
$97.76 bbl.

   Futures have come off earlier highs as markets continue to weigh the 
durability of the ceasefire, with the Strait of Hormuz still not fully 
normalized despite the agreement. That has left pricing caught between reduced 
immediate supply risk and uncertainty over how quickly flows return.

   Rack prices, however, showed signs of stabilizing after Thursday's sharp 
correction, with modest increases across most regions, particularly in diesel.

   On Friday,  East Coast ULSD rose 10.94cts to $4.1628 gallon, while Midwest 
prices increased 9.27cts to $3.9823 gallon. Rocky Mountain values climbed 
8.01cts to $4.1799 gallon, and West Coast ULSD rose 8.34cts to $5.2290 gallon, 
maintaining the strongest regional premium. Gulf Coast data was not fully 
available in the source, though prior levels indicate the region remains near 
the national benchmark.

   Relative to the national ULSD rack average of $4.1627 gallon, PADD 5 held 
the widest premium at $1.0663 above the U.S. benchmark, while PADD 4 traded 
slightly above the average. PADD 1 was essentially in line, while PADD 2 
remained the deepest discount at 18.04cts below the benchmark.

   On conventional unleaded gasoline racks, movements were limited. Midwest 
gasoline increased 2.70cts to $2.7608 gallon, while Rocky Mountain prices rose 
3.26cts to $3.1455 gallon. East Coast and Gulf Coast prices edged slightly 
lower, while West Coast gasoline declined 0.53cts to $3.7895 gallon, 
maintaining the only premium position.

   Compared with the national gasoline average of $3.2255 gallon, PADD 5 
remained the only region trading at a premium, at 56.40cts above the benchmark. 
All other regions held discounts, led by PADD 2 at 46.47cts below the national 
average, followed by PADD 1 at 32.83cts and PADD 3 at 32.90cts.

   Premium gasoline rack prices were mixed, with modest increases in the 
Midwest and Rocky Mountain regions, while East Coast, Gulf Coast and West Coast 
values edged lower. West Coast premiums remained elevated at $4.1830 gallon.

   The modest rebound in rack prices on Friday comes as markets continue to 
work through the sharp shift in sentiment following the ceasefire, with 
physical pricing adjusting more gradually than futures. At the same time, 
underlying demand remains supported, with U.S. Energy Information 
Administration data showing distillate exports rising to 1.57 million bpd, 
gasoline shipments at 880,000 bpd, and jet fuel exports at 442,000 bpd.

   Even after the recent pullback, market structure remains supportive, with 
ULSD backwardation still above 22cts and RBOB holding near 7cts, signaling that 
prompt supply remains relatively tight even as broader price levels adjust.

    




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