It is time to consider booking diesel fuel needs. I have had a handful of clients looking at their local prices dropping aggressively over the past week or so and I am sending this Continuous Chart (always plots the front month contract) to put things in perspective. This chart goes back roughly the last 18 months. Heating Oil is the proxy for Diesel Fuel on the NYMEX exchange. During 2019, futures traded back and forth in a range from roughly $1.75-2.10/gal. Just two weeks ago, futures made a high of $2.1195 and this morning the front contract made a low of $1.7506. If you haven’t been monitoring local fuel prices, at least for shorter term needs, now might be a good time to get a feel for the pulse of the cash market and talk to your supplier.
Brian Splitt
Partner – AgMarket.Net
Farm Division of John Stewart & Associates
2607 N Prindle Ave
Arlington Heights, IL 60004
815-665-0463 Desk
847-946-2080 Cell
@bjsplitt Twitter
Back