Subscribe to our free, weekly email newsletter!


Diesel prices are up nearly five cents, says Energy Information Administration

By Jeff Berman, Group News Editor
July 12, 2011

Diesel prices went up for just the second time in ten weeks, according to data from the Department of Energy’s Energy Information Administration (EIA).

The average price per gallon for diesel rose 4.9 cents to $3.899 per gallon, marking its biggest weekly increase since the week of April 4, when prices went up 4.4 cents to $3.976 per gallon.

Prior to this increase diesel prices had fallen a cumulative 27.4 cents since hitting a 2011 high of $4.124 per gallon the week of May 2.

Compared to a year ago, diesel prices are up 99.6 cents.

While diesel saw a relatively sizable gain in its weekly prices, the price per barrel of crude oil is down $1.05 to $95.15 per barrel on the New York Mercantile Exchange, according to media reports.

An Associated Press report stated that oil prices have been following on the heels of a weekend disclosure that inflation in China reached a three-year high in June. It added that rising consumer prices will heap even more pressure on the country’s expanding economy, explaining that could affect energy demand and also pointing out that oil has been climbing on the expectation that China will drive world oil demand.

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.

About the Author

Jeff Berman headshot
Jeff Berman
Group News Editor

Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. .(JavaScript must be enabled to view this email address).


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

United States Class I carloads were down 56,104 carloads–or 4.6 percent annually–at 1,115,957 in August, and intermodal containers and trailers were up 3.6 percent--or 38,617 units- at 1,114,370.

A new report from Chicago-based freight transportation and logistics consultancy CarrierDirect released this week examines current freight market conditions and what logistics and supply chain stakeholders need to do and know in order to stay one step ahead of the competition.

You’ve heard the old saying, it was the best of times, it was the worst of times. Rob Handfield sees this as the best of times for procurement professionals, who have an opportunity to deliver real value to their organizations

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.

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