Fuel

By Staff -- Logistics Management, 3/1/2000

U.S. petroleum refiners upped their average prices by 1.5% in January 2000, the ninth increase in 11 months. Sharp hikes in foreign crude oil prices are behind the high U.S. jet fuel and diesel prices. At nearly $30 a barrel, oil prices are at their highest since the Gulf War. Shippers and carriers can expect fuel prices to remain high as oil-producing nations that were hit hard by the Asian slump in 1997-98 now are drawing down excess inventories to hold up prices.

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