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On Monday afternoon, the future price for Ultra Low Sulfur Diesel (ULSD) was $2.94. Recall that this is the price in NY Harbor if you buy 42,000 gallons next month. The graph below shows it is even more expensive than ARA – ARA (Amsterdam, Rotterdam, Antwerp including Flushing and Ghent) and Singapore.
Remember that these prices don’t include taxes, transportation, distributor margins, etc. |
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What’s the future? Who knows? But you should keep in mind Russia is one of the largest oil producers in the world (see table) and cutting them off would create massive inflation. |
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Other points of interest:
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