Throughout the United States retail diesel prices dropped an average of four cents this week to hit $2.45. The highest drop in the country was in the Midwest region, where prices fell five cents to hit $2.44. The lowest fall was one cent in the Rocky Mountain region. The highest prices are in the West Coast region at $2.65, while the lowest are in the Midwest at $2.44.
International and U.S. upstream oil companies wrote down $38 billion in assets in the third quarter of 2015, the largest for any quarter since at least 2008 for this set of 46 companies (Figure 1). Low oil prices continue to have a significant effect on the value of companies' assets and future prospects as well as on current revenue.
After a few weeks of no change, retail gasoline prices fell six cents throughout the United States, bringing the price to $2.11. The 27-week average price now rests at $2.46. The largest fall was in the Midwest region, where gas plummeted 13 cents this week to hit $2.08. The Gulf Coast saw the next highest drop of only five cents. Only the Central Atlantic and Lower Atlantic regions saw no change.
Ohio had the largest fall of 21 cents among the states with gas prices at $1.97. The lowest gas prices of hte states are in Texas at $1.93, while the highest is in Washington at $2.47.
Dairy margins were mixed during the first two weeks of November, according to Commodity & Ingredient Hedging, LLC.
Margins strengthened for the fourth quarter of 2015, but weakened through the first half of 2016.