U.S. Rack ULSD Rebounds 15.47cts on Iran Supply Risk


   
   DAVENPORT, FL (DTN) -- Wholesale rack prices for ultra-low sulfur diesel, 
conventional unleaded gasoline and premium grade gasoline across the United 
States moved higher Wednesday (3/18), with ULSD rebounding from the previous 
session's sharp decline as refined product markets remained volatile.

   The move higher also came as supply risks intensified after Iran reported 
strikes to parts of its energy infrastructure, and pledged retaliation.

   Nationwide ULSD rack prices averaged $3.9260 gallon, up 15.47cts from 
Tuesday's $3.7713 gallon, according to DTN data. Conventional unleaded gasoline 
rack prices averaged $3.1351 gallon, up 7.89cts from Tuesday's $3.0562 gallon. 
Premium grade gasoline rack prices also moved higher across all regions 
Wednesday, led by gains in PADD 5 and PADD 1.

   ULSD racks increased across all regions. The largest rise came in PADD 5, 
where prices climbed 17.84cts to $4.6003 gallon. PADD 1 increased 16.25cts to 
$4.1390 gallon, while PADD 3 rose 15.13cts to $3.9464 gallon. PADD 4 moved 
14.74cts higher to $3.9651 gallon, and PADD 2 increased 14.13cts to $3.5373 
gallon.

   Relative to the national ULSD rack average of $3.9260 gallon, PADD 5 held 
the strongest premium at 67.43cts above the U.S. benchmark, followed by PADD 1 
at 21.30cts above the national average. PADD 4 and PADD 3 also traded at slight 
premiums, while PADD 2 remained the deepest discount, at 38.87cts below the 
benchmark.

   On conventional unleaded gasoline racks, all regions moved higher. PADD 2 
posted the largest increase, rising 13.83cts to $2.7368 gallon. PADD 5 climbed 
13.39cts to $3.8853 gallon, while PADD 3 increased 9.47cts to $2.8382 gallon. 
PADD 1 rose 9.26cts to $2.8703 gallon, and PADD 4 moved 8.41cts higher to 
$3.0296 gallon.

   Compared with the national conventional unleaded gasoline average of $3.1351 
gallon, PADD 5 remained the only region trading at a premium, at 75.02cts above 
the U.S. benchmark. All other regions held discounts, led by PADD 2 at 39.83cts 
below the national average, followed by PADD 3 at 29.69cts, PADD 1 at 26.48cts, 
and PADD 4 at 10.55cts below the benchmark.

   Premium grade gasoline rack prices also advanced across all major regions 
Wednesday. PADD 5 averaged $4.2687 gallon, up 13.85cts on the day, while PADD 1 
rose 9.11cts to $3.5757 gallon. PADD 3 increased 8.61cts to $3.4897 gallon, 
PADD 4 moved 8.26cts higher to $3.4584 gallon, and PADD 2 rose 6.99cts to 
$3.2500 gallon. Premiums to conventional unleaded gasoline were widest in PADD 
1 at 70.54cts, followed by PADD 3 at 65.15cts, PADD 2 at 51.32cts, PADD 4 at 
42.88cts and PADD 5 at 38.34cts.

   In futures trading, refined products also moved higher. Front-month NYMEX 
ULSD was at $4.2182 gallon, up 20.24cts, while front-month RBOB gasoline rose 
9.01cts to $3.2135 gallon. WTI crude traded at $98.11 barrel, up $1.90, as 
markets continued to react to escalating threats to regional energy 
infrastructure and the risk of broader disruption to Middle East supply flows.




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