Diesel $8.373 · Regular gasoline $6.389
AAA statewide average, Oct 4. From the Oct 5 issue, with what moved the price and our call for the week ahead. A new issue every Monday.
Every Monday. Where California diesel and gasoline actually priced last week, what crude and refining margins did, the supply events behind the move, and what it means for a harvest fuel budget.
Every term below appears in an issue we published. It is a record of coverage, not a list of intentions.
California diesel closed Sunday at $8.3729, a second straight weekly decline and 6.6 cents under the September 22 record. Los Angeles wholesale diesel fell 33 cents, but distillate stocks drew again and gasoline sits 4.9 cents from the all-time state record at $6.3889. Our call for October 5 through 11.
California diesel closed Sunday at $8.4160, the first weekly decline this cycle, and Los Angeles wholesale confirmed the top by rising just 13 cents. Gasoline went the other way, up 20 cents to $6.3528 and nine cents from the all-time state record. WTI fell 8% on Iran peace hopes while Brent held near $104. Our call for September 28 through October 4.
California diesel set another record Sunday at $8.4244 and seven of the nine Central Valley metros we track set records with it. But the Oman meeting was postponed indefinitely, which was one of the three things we said would prove us wrong, and the market topped anyway. Los Angeles wholesale slowed from 57 cents to 14, distillate built a third straight week, and Hanford and Merced already peaked midweek. We are calling the top and we tell you exactly what would break the call.
California diesel set another all-time record Sunday at $8.1367, and for the first time all nine Central Valley metros we track set records on the same day. But something changed Friday: crude fell, distillate inventories built for a second straight week, and Gulf diplomats sit down with Iran in Oman today. We think the wholesale top is close, and we say exactly what would prove us wrong.
A Labor Day thank-you to the men and women of agriculture, the armed forces and our first responders. Then the market: US–Iran strikes resumed September 1, crude ran up 9%, the diesel crack set a record above $106 a barrel, and California diesel closed at an all-time high of $7.8105 with six of nine Valley metros setting records.
Crude fell 4 to 6% on Hormuz corridor talks and the record diesel crack came off its high, but California diesel still added 15 cents to $7.295.
Diesel refining margins set an all-time record above $100 a barrel and California diesel jumped 20¢ in a week to $7.142.
Drones hit two tankers in the Strait of Hormuz and diesel futures rose almost 10% in five days, but the pump still priced last week's low.
Both crude benchmarks fell more than 7% and California pump prices finally turned lower.
Brent closed July at $90.12, its strongest month since March, and California diesel pushed to $6.91. We look higher again this week.
Diesel and gasoline both moved higher again last week. Here is what it means for your fuel budget.