Diesel fuel prices
The EIA (U.S. Energy Information Administration) reported that US on-highway diesel fuel prices fell slightly by 0.12% at $2.42 per gallon on July 4, 2016—compared to the previous week. Prices hit $2.43 per gallon for the week ending June 13, 2016—the highest level so far in 2016.
Heating oil and diesel fuel price forecast for 2016
The EIA estimates that on-highway diesel fuel prices will average $2.34 per gallon and $2.69 per gallon, respectively, in 2016 and 2017. The EIA added that heating oil could average $2.16 per gallon in 2016 and $2.61 per gallon in 2017.
Diesel fuel and heating oil prices are driven by US distillate inventories. Distillates consist of diesel fuel and heating oil. Read the last part of this series to learn more about US distillate inventories.
Impact on energy stocks and ETFs
High refined products and crude oil prices benefit US refiners and oil producers such as Western Refining (WNR), Whiting Petroleum (WLL), Northern Tier Energy (NTI), Goodrich Petroleum (GDP), and Laredo Petroleum (LPI).
Read the next part of this series to learn about gasoline inventories.