Diesel And Lumber Prices – February 5, 2019

February 5, 2019

Diesel Prices

Current diesel national average $2.966 per gallon.

National Average Diesel Price Per Gallon: $2.97

According to BP CEO Bob Dudley, oil prices are set to improve over the coming months.

“I couldn’t predict the oil price,” he said, “but we are planning BP between $50 and $65 [per barrel].”

As of today, Brent crude is trading at $62.22 per barrel, down 0.4%.

OPEC, along with Russia, agreed to output cuts starting in the beginning of January 2019. Meanwhile, the United States has imposed sanctions against Venezuela’s crude oil industry, a move which analysts believe will limit all oil transactions between Venezuela and other nations.

 

Lumber Prices

Framing lumber: $354

Panels/plywood: $372

Strong trading at the end of January pushed framing lumber prices up sharply (by $18 versus the previous week). Lumber production cuts in the Western Canadian region drove the price jump.

Moderate increases in sales also drove up the price for structural panel prices (by $3 versus the previous week).

 

Sources: Random Lengths, EIA, CNBC 

 

 


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