U.S. Rack ULSD Prices Climb 25.5cts for Third Straight Day

DAVENPORT, FL (DTN) — Wholesale rack prices for gasoline and diesel across the United States opened higher Wednesday, extending the upward trend seen over the past three sessions as supply concerns tied to escalating geopolitical tensions in the Middle East continued to ripple through refined products markets.

Nationwide ultra-low sulfur diesel (ULSD) rack prices were at $3.2597 gallon, up 25.55cts from Tuesday’s $3.0042 gallon, according to DTN data.

Meanwhile, conventional unleaded gasoline rack prices were heard at an average of $2.5732 gallon, an increase of 6.82cts compared to Tuesday’s national average of $2.5050 gallon.

On gasoline racks, PADD 5 posted the largest increase, rising 12.48cts to $3.0728 gallon, followed by PADD 4, up 9.65cts to $2.2341 gallon. PADD 1 climbed 7.85cts to $2.2031 gallon, while PADD 3 increased 7.30cts to $2.1646 gallon and PADD 2 rose 6.43cts to $2.0950 gallon, the same data showed.

Compared to the national average of $2.5732 gallon, all regions traded at a discount except for PADD 5, which stood at a 49.96cts premium to the U.S. average. The widest discount was seen in PADD 2, at 47.82cts below the national benchmark, followed by PADD 3 at a 40.86cts discount, PADD 1 at 37.01cts below, and PADD 4 at 33.91cts below.

ULSD racks also moved higher across all five PADDs, with the sharpest increase seen in PADD 3, where ULSD rose 27.86cts to $3.1678 gallon, followed by PADD 2, up 27.30cts to $3.1774 gallon. PADD 5 climbed 26.47cts to $3.7227 gallon, while PADD 1 and PADD 4 rose 26.32cts and 18.37cts, respectively.

Relative to the national ULSD rack average of $3.2597 gallon, PADD 5 held the strongest premium at 46.30cts above the U.S. average, while PADD 1 traded at an 8.33cts premium. PADDs 2, 3 and 4 were at 8.23cts, 9.19cts and 31.15cts below the national average, in that order.

The front-month NYMEX ULSD futures contract for April delivery declined by $0.0291 to $3.1578 gallon, while the April NYMEX RBOB contract fell by $0.0275 to $2.4849 gallon, as futures markets edged lower during early Wednesday trading.