Subscribe to our free, weekly email newsletter!


Diesel prices are down 3.8 cents, says Energy Information Administration


July 06, 2011

It appears that diesel prices are back on a steady downward pattern, according to data released by the Department of Energy’s Energy Information Administration (EIA).

Prices dipped 3.8 cents to $3.85 per gallon, following a 6.2 cent decline last week, which represented the steepest weekly decline since falling 6.4 cents the week of May 23. Diesel prices have gone down a cumulative 27.4 cents since hitting a 2011 high of $4.124 per gallon the week of May 2.

On a year-over-year basis, prices are up 96.2 cents.

Oil prices are also down, with the current price per barrel trading at $96.09 on the New York Mercantile Exchange, according to media reports. A Boston Globe article stated that Goldman Sachs said that the International Energy Agency’s recent decision to release 60 million barrels of oil from its reserves won’t cool off prices as much as originally thought.

The article added that independent oil analysts say prices still could head lower this year, but some think IEA’s announcement speaks volumes about its expectations for world oil supplies.

As LM has reported, even with the recent decline of diesel prices, shippers and carriers remain concerned about the price of diesel and oil. While many have indicated that prices at current levels are still digestible, they cautioned that could quickly change depending on how quickly prices rise with summer driving season officially here.

And even with declines in prices in recent weeks, the focus from a supply chain perspective for managing fuel price ebbs and flows—for shippers—is more on utilization and efficiency by doing things like driving empty miles out of transportation networks.

Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

So far, so good may be the best way to describe the current state of progress in the negotiating process regarding the announcement made last month by FedEx that it plans to acquire Netherlands-based TNT-NV and a provider of mail and courier services and the fourth largest global parcel operator for $4.8 billion.

A new study, “Understanding Risk Assessment Practices at Manufacturing Companies,” uncovers complex business risks and disruptors facing manufacturers, and a pressing need for the industry to evolve its risk assessment capabilities.

Led by perennial earnings champ Old Dominion Freight Line, the nation’s LTL carriers as a group are enjoying a particularly strong earnings season—especially when one considers the first quarter usually is the slowest period for trucking in general with harsh winter weather bearing down on earnings.

A mixed bag may be the most appropriate way to characterize the current state of manufacturing based on the most recent edition of the April edition of the Manufacturing Report on Business issued by the Institute for Supply Management today.

The Department of Transportation’s Federal Railroad Administration and Pipeline and Hazardous Materials Safety Administration (FRA) issued its long-awaited Final Rulemaking for “Enhanced Tank Car Standards and Operational Controls for High-Hazard Flammable Trains.”

Article Topics

News · Trucking · Transportation · EIA · Diesel Prices · Oil · Oil Prices · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA