Subscribe to our free, weekly email newsletter!


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

By Staff
June 10, 2014

The price of diesel gasoline keeps heading down. That was made clear once again, with the Department of Energy’s Energy Information Administration (EIA) reporting this week that the average price per gallon of diesel gasoline fell for the sixth straight week.

The average price per gallon of diesel dropped 2.6 cents to $3.892 per gallon, which is the steepest weekly decline in more than a year, since it fell 3.6 cents to $3.851 per gallon the week of April 29, 2013.

Weekly declines in the five previous weeks were 0.7 cents, 0.9 cents, 1.4 cents, 1.6 cents, and 1.1 cents respectively.

The average price per gallon of diesel is up 4.3 cents annually and down 1.8 cents since January 6 on a year-to-date basis. The average price per gallon has fallen in 12 of the past 15 weeks and is 12.9 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!

Recent Entries

While core metrics were down from a very impressive July, the August edition of the Non-Manufacturing Report on Business from the Institute of Supply Management (ISM) was still very strong.

The Clean Cargo Working Group (CCWG) has released a report indicating that in 2014 average CO2 emissions in the global container shipping trades declined 8.4 percent from the year before.

UPS Freight, the less-than-truckload (LTL) subsidiary of UPS, recently announced it has rolled out a new service center facility in Franklin Park, Illinois. This is the company’s fifth Chicago-area service center along with other ones in Aurora, Chicago, Palantine, and South Holland.

Putting the renewed strength in the truckload market into a very positive perspective is a report issued by Avondale Partners analyst Donald Broughton, which was released yesterday. Entitled, “Q2’15 Trucking Capacity; Goldilocks Era Continues,” Broughton explained that in the second quarter only 70 truckload fleets failed, or exited the business. That number may seem high to some, but it is not, especially when you consider that the second quarter of 2014 saw more than five times as many truckload carriers, 375 to be exact, exit the business.

Global demand remains stable as packaging equipment providers of all sizes shift focus

Article Topics

News · EIA · Diesel Prices · Diesel · 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