Subscribe to our free, weekly email newsletter!


Diesel prices decrease 1.3 cents to $3.857 per gallon, reports EIA

By Jeff Berman, Group News Editor
November 05, 2013

The average price per gallon of diesel gasoline fell for the seventh time in the last nine weeks and the second week in a row, the Department of Energy’s Energy Information Administration (EIA) said this week.

The average price per gallon dropped 1.3 cents to $3.857 per gallon, following a 1.6 cent drop last week, no change the previous week and a 2.2 cent decline the week of October 7.

In its recent update of the short-term energy outlook, the EIA expects the average price of diesel for 2013 to be $3.96 per gallon, just ahead of 2012’s $3.97. For 2014, it expects the average price to be 3.76 per gallon.

The recent decline in prices is not entirely surprising, given record high refining in the U.S., shrinking consumer demand and slumping crude oil prices, Tom Kloza, chief oil analyst for Internet website price tracker GasBuddy.com, said in a USA Today report. What’s more, the ongoing emergence of natural gas in the U.S. and falling oil prices are also helping to keep prices down, too.

On an annual basis, the average price per gallon of diesel is down 15.3 cents, and the average price per gallon is at its lowest point since the week of July 8, when it was at $3.828.

Regardless of the fluctuation in diesel prices, shippers are cognizant of the impact diesel prices can have on their bottom line—for better or worse.

And they continue to be proactive on that front, too, by taking steps to reduce mileage and transit lengths when possible as well as cut down on empty miles. And even through shippers want to adjust budgets in order to offset the increased costs higher fuel prices bring, it is not always an easy thing to manage.

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

The long-simmering court battle over whether FedEx Ground’s workers are independent contractors or employees appears headed to the appellate courts—and maybe the U.S. Supreme Court.

Carload volume headed up 4.3 percent to 298,376, and intermodal units, at 273,376 containers and trailers were up 4.8 percent annually.

In light on various service-related freight railroad service issues, the Department of Transportation’s Surface Transportation Board (STB) recently announced it is now requiring Class I railroads to publicly file weekly data reports on service performance. These weekly reports are slated to begin on October 22.

According to its data, spot market volume for the month of September was up 32 percent on an annual basis and set a new record for the 14th straight month, with gains for each of the three equipment categories it tracks, including load availability for: dry vans up 42 percent; refrigerated (reefer) up 24 percent; and flatbed volume up 46 percent.

FedEx Freight and Con-way Freight, two of the largest non-union LTL carriers in the nation, are battling organizing efforts by the Teamsters union in a closely watched unionization effort.

Article Topics

News · EIA · 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