U.S. Rack ULSD Prices Rise 7.3cts Amid Iran War


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Wholesale rack prices for gasoline and diesel across 
the United States opened higher on Monday due to supply tightness expectations 
as geopolitical tensions increase in the Middle East, following military 
strikes from U.S. and Iran over the weekend.

   Nationwide ultra-low sulfur diesel (ULSD) rack prices were at $2.7360 
gallon, up 7.3cts from Friday's $2.6630 gallon, according to DTN data.

    Meanwhile, conventional unleaded gasoline rack prices were heard at an 
average of $2.4222 gallon, an increase of 1.7cts compared to Friday's implied 
national average of $2.4052 gallon.

   On gasoline racks, PADD 3 posted the largest increase, rising 4.86cts to 
$2.0249 gallon, followed by PADD 2, up 4.03cts to $1.9740 gallon. PADD 4 
increased 2.37cts to $2.0475 gallon, while PADD 5 edged up 0.39cts to $2.8377 
gallon. In contrast, PADD 1 declined 3.01cts to $2.0443 gallon, the same data 
showed.

   Compared to the national average of $2.4222 gallon, all regions traded at a 
discount except for PADD 5, which stood at a 41.55cts premium to the U.S. 
average. The widest discount was seen in PADD 2, at 44.82cts below the national 
benchmark, followed by PADD 3 at a 39.73cts discount, PADD 4 at 37.47cts below, 
and PADD 1 at a 37.79cts discount.

   ULSD racks also moved higher across all five PADDs, with the sharpest 
increase seen in PADD 1, where ULSD rose 8.98cts to $2.7913 gallon, followed by 
PADD 5, up 7.02cts to $3.1886 gallon. PADD 3 climbed 6.91cts to $2.6076 gallon, 
while PADD 4 and PADD 2 rose 4.75cts and 4.63cts, respectively.

   Relative to the national ULSD rack average of $2.7360 gallon, PADD 5 held 
the strongest premium at 45.26cts above the U.S. average, while PADD 1 traded 
at a 5.53cts premium. The PADDs 2,3 and 4 were at 6.97cts, 12.84cts and 
17.26cts below the national average in that order.

   The front-month NYMEX ULSD futures contract rose by  $0.2982 to $2.8942 
gallon, while the NYMEX RBOB for April delivery increased by $0.0839 to 
$2.3694, while the two crude benchmarks Brent and WTI rose over 6% from Friday.

    




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