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

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).

By ·

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, 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. Contact Jeff Berman

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!

Latest Whitepaper
The Retailer’s Atlas for Omnichannel Returns
Fueled by e-commerce, the new state of retail is truly an omnichannel one, and companies will flourish or flounder based on how well their supply chain can meet customer expectations.
Download Today!
From the November 2017 Logistics Management Magazine Issue
An inside look at how a large pharmaceutical firm transformed its vendor and supplier relationships into true, collaborative partnerships—and greatly strengthened its logistics and supply chain operations in the process.
34th Annual Quest for Quality Awards: 2017 Awards Dinner
Trucking Regulations: Washington U-Turns; States put hammer down
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Logistics Showcase: Rising to the same-day delivery challenge
Today’s delivery puzzles are very different than traditional DC to store or warehouse to DC puzzles. It’s not just the shorter time frame for delivery; the basic requirements are significantly different and more complex as well. In this session you'll learn how to address same day delivery challenges while also driving down costs and increasing customer satisfaction.
Register Today!
EDITORS' PICKS
2017 NASSTRAC Shipper of the Year: Mallinckrodt; Mastering and managing complexity
An inside look at how a large pharmaceutical firm transformed its vendor and supplier relationships...
2017 Alliance Awards: Recognizing outstanding supply chain partnerships
In an era where effective supply chain collaboration is both highly valued and elusive, Logistics...

26th Annual Study of Logistics and Transportation Trends: Transportation at Digital Speed
While a majority of companies strongly agree that transportation is a strategically important...
34th Annual Quest for Quality Awards: Winners Revealed
Which carriers, third-party logistics providers, and North American ports have crossed the service...