Diesel prices are down for the fourth straight week, reports EIA

The average price per gallon fell 0.9 cents to $3.925 per gallon, following declines of 1.4 cents, 1.6 cents, and 1.1 cents, respectively, over the previous three weeks, for a cumulative 5 cent drop over the last four weeks.

By ·

Diesel prices dropped for the fourth straight week, according to the Department of Energy’s Energy Information Administration (EIA).

The average price per gallon fell 0.9 cents to $3.925 per gallon, following declines of 1.4 cents, 1.6 cents, and 1.1 cents, respectively, over the previous three weeks, for a cumulative 5 cent drop over the last four weeks.

The average price per gallon of diesel is up 4.5 cents annually-and up 1.5 cents since January 6 on a year-to-date basis–and has dropped in ten of the last 13 weeks. Despite dropping for the fourth straight week, the average price per gallon is 9.6 cents below the 2014 year-to-date high of $4.021 reached during the week of March 10.

As LM has reported, with prices continuing to hover around the $4 per gallon mark adjusting budgets is only part of the solution when it comes to dealing—and living—with fuel price fluctuation, according to shippers.

In some cases they look for hedge diesel prices when it is applicable, shippers have told LM. This involves committing to a certain price on fuel at which pay to a certain rate at which point it is frozen at that rate for the shipper. And it also requires shippers to be focused on keeping their drivers on the road as much they can and being profitable and not in detention.

Other steps being taken by shippers to combat high fuel prices include things like focusing 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!

Article Topics

Diesel Prices · EIA · All Topics
Latest Whitepaper
Managing Global Transportation: How NVOCCs can operate more profitably
Global transportation isn’t getting any easier to manage. With new rules and regulations to learn, new compliance requirements to adhere to, and new customers and business partners to onboard, navigating the complexities of the global market can be difficult for any company. To fully leverage their global supply chains, firms need a robust, global transportation management system that helps them navigate this ever-changing environment.
Download Today!
From the July 2016 Issue
While it’s currently a shippers market, the authors of this year’s report contend that we’ve entered a “period of transition” that will usher in a realignment of capacity, lower inventories, economic growth and “moderately higher” rates. It’s time to tighten the ties that bind.
2016 State of Logistics: Third-party logistics
2016 State of Logistics: Ocean freight
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Getting the most out of your 3PL relationship
Join Evan Armstrong, president of Armstrong & Associates, as he explains how creating a balanced portfolio of "Top 50" global and domestic partners can maximize efficiency and mitigate risk.
Register Today!
EDITORS' PICKS
Regional ports concentrate on growth and connectivity
With the Panama Canal expansion complete, ocean cargo gateways in the Caribbean are investing to...
Digital Reality Check
Just how close are we to the ideal digital supply network? Not as close as we might like to think....

Top 25 ports: West Coast continues to dominate
The Panama Canal expansion is set for late June and may soon be attracting more inbound vessel calls...
Port of Oakland launches smart phone apps for harbor truckers
Innovation uses Bluetooth, GPS to measure how long drivers wait for cargo