Diesel And Lumber Prices – March 5, 2019

Diesel Prices

Current diesel national average $3.076 per gallon.

National Average Diesel Price Per Gallon: $3.076

Will electric vehicles negatively impact oil prices? Saudi Arabia’s Aramco – which is the world’s largest oil company – says no.

The transport industry accounts for more than 50% of oil demand. And Morgan Stanley forecast that by 2025 there could be 36 million electric vehicles on the road globally.

However, Aramco believes electric vehicles aren’t ready to overtake the traditional engine.

“The consensus from forecasters is that the internal combustion engine will be with us for decades to come,” said Aramco’s Chief Technology Officer Ahmad Al Khowaiter. “We are still expecting 90 percent of vehicles to be driven by ICE by the mid-century.”


Crude Oil & Natural Gas

Units Price Change
West Texas Intermediate Crude
per barrel $56.61 -0.08
Brent Crude 
per barrel $65.46 -0.21
Natural Gas 
MMBtu $2.85 -0.01


Refined Products (U.S. Average)

Units Price Change
Diesel per gallon $3.076 +0.028
Gasoline per gallon $2.422 +0.032
Heating Oil per gallon $3.231 +0.006
Propane per gallon $2.430 -0.001



Lumber Prices


Harsh winter weather in February continued to put a damper on softwood lumber trading. This led the framing lumber index price to drop by $6. Structural panel products saw similarly slow trading, leading to no change in prices versus the previous week.


Framing Lumber & Plywood Products

Current 1 Week Ago 2 Weeks Ago Change vs. 1 Week Ago
Framing Lumber Index $371 $377 $377 -$6
Structural Panel
$378 $378 $377 $0


Sources: Random Lengths, EIA (1), EIA (2), BloombergCNBC






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