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

The International Air Transport Association (IATA) announced August 2014 data for global air freight markets showing continued “robust”growth in air cargo volumes.

Even though some of its key metrics dropped sequentially from August to September, the outlook for manufacturing over all remains strong, according to the most recent edition of the Manufacturing Report on Business issued today by the Institute for Supply Management (ISM).

Company officials said that these planned changes, which will take effect on January 4, 2015, will provide for increases in current pay rates and reduce the time it takes for its nearly 15,000 drivers to reach top pay scale.

While the economy has seen more than its fair share of ups and downs in recent years, 2014 is different in that it could be the best year from an economic output perspective in the last several years. That outlook was offered up by Rosalyn Wilson, senior business analyst at Parsons, and author of the Council of Supply Chain Management Professionals (CSCMP) Annual State of Logistics Report at last week’s CSCMP Annual Conference in San Antonio.

Matching last week, the average price per gallon of diesel gasoline dropped 2.3 cents, bringing the average price per gallon to $3.755 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).

Article Topics

News · Diesel Prices · Diesel · All topics

Comments

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


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA