The ongoing high costs for gasoline and diesel fuel influenced buying and selling happening in the wholesale market with September winding down.

That’s the gist of the newest Market Insights from Black Book, which watched overall wholesale values drop by 0.71% as “depreciation continued at a seasonally elevated pace” and “truck and SUV segments remained under greater pressure than cars.”

Meanwhile, Black Book noticed the auction conversion rate declined to 57%, which was 1 percentage point lower than the previous week.

“Total auction volume has increased over the past several weeks, and that trend continued last week. Even with more vehicles being offered for sale, the auction conversion rate remains elevated,” Black Book said in its report released on Tuesday.

“Rising fuel prices, with gasoline above $4 per gallon and diesel above $6, are adding pressure to vehicle values, particularly for 2500- and 3500-series trucks equipped with diesel engines,” Black Book continued. “We will monitor whether broader softness continues to weigh on trucks, full-size SUVs, and other utility vehicle segments. We will also watch for signs that EVs are gaining broader buyer support, or whether buyer selectivity continues to limit demand.”

A few specific vehicle segments made notable value movements, including:

—Prices for sub-compact cars between 2 and 8 years old slid by 0.93%

—Compact crossovers sustained their largest weekly value decline since last December

—Prices for full-size pickups less than 2 years old dropped by 1.22%, while values for these units between 2 and 8 years old decreased by 1.15%

—Minivans experienced a sharp price decline last week, led by a 2.16% decrease for units between 2 and 8 years old

Analysts added their usual update from the retail market, noting the estimated used retail days to turn remains at roughly 34 days.

“Despite softer wholesale values, retail pricing and inventory trends continue to support buyer activity, although purchasing decisions are becoming increasingly selective based on vehicle condition, mileage, and overall desirability,” Black Book said

“As always, our team of analysts are focused on keeping their eyes on the market for developing trends and gathering insights,” Black Book went on to say.