Subscribe to our free, weekly email newsletter!

Diesel prices are up for third straight week

By Staff
February 11, 2014

The Department of Energy’s Energy Information Administration (EIA) reported this week that the average price per gallon of diesel headed up 2.6 cents to $3.977.

This represents the third straight week of increases for a cumulative 10.4 cent gain. And this week’s price is the highest since hitting $3.981 the weeks of September 9 and September 16.

Prior to these two weeks on rising prices, diesel dropped a cumulative 3.7 cents over the previous two weeks, when prices fell 1.3 cents and 2.4 cents, respectively. Those two weeks of declines were preceded by three weeks of gains for a cumulative 3.9 cents.  And those gains were preceded by two weeks of declines for a cumulative 1.2 cent drop during the weeks of December 9 and December 17.

On an annual basis, the average price per diesel is down 12.7 cents, when diesel was at $4.104 per gallon.

In line with the gain in diesel prices is the recent increase in oil prices. The price per barrel of crude oil was $100.06 on the New York Mercantile Exchange at press time.

A Marketwatch report noted that this is the highest close of the year as traders looked toward this week’s economic data and monetary policy testimony from Federal Reserve Chairwoman Janet Yellen for cues on the next direction for prices.

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

More than nine months after saying it was not for sale, Long Beach Calif.-based non asset-based third-party logistics (3PL) services provider UTi Worldwide has apparently changed its tune, with the company saying it has entered into a definitive agreement to be acquired by Denmark-based global 3PL DSV for $1.35 billion and $7.10 per share.

September carloads—at 1,417,750—were down 4.9 percent—or 72,597 carloads— annually, and intermodal—at 1,365,980 trailers and containers—was up 1.2 percent—or 16,272 trailers and containers.

Slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain, according to the latest Container Forecaster report published by global shipping consultancy Drewry.

The NRF is calling for 2015 holiday sales to see a 3.7 percent annual gain to $630.5 billion, which comfortably outpaces the ten-year average of 2.5 percent.

On the heels of announcing it plans to acquire freight transportation and logistics services provider Con-way Inc. for $3 billion, XPO Logistics may be considering selling off Con-way Truckload, the company’s truckload arm.

Article Topics

News · Diesel Prices · Diesel · All topics


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