US Benchmark Diesel Price Rises 9.7 Cents to $6.276 a Gallon

The Department of Energy/Energy Information Administration's weekly benchmark diesel price rose 9.7 cents to $6.276 a gallon, effective Monday and released Tuesday, following a sharp one-day gain in CME ultra low sulfur diesel futures. The price remains about 25 cents below the all-time high of $6.529 a gallon set on September 22, ending three consecutive weeks of declines. ULSD futures settled at $4.9344 a gallon on October 13 after a more than 21-cent jump, and traded near $4.9457 a gallon mid-morning Tuesday before turning lower on unconfirmed reports that Qatar and Pakistan had proposed new talks to end the Iran war. The Brent-ULSD crack spread has held mostly between 83 and 88 cents a gallon for about a month. A lockout of Teamsters members at Phillips 66's Bayway refinery in New Jersey was not expected to affect prices, with operations continuing normally.