Diesel markets have turned around sharply in futures and wholesale markets since the start of the year, and the looming Feb. 5 ban on European Union imports of Russian diesel is seen as a key reason.
But for now, U.S. pump prices are still catching up to the downturn in futures and wholesale prices that closed out 2022. As a result, this week’s Department of Energy/Energy Information Administration average retail diesel price declined despite an increase of almost 28 cents a gallon since a...