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Diesel prices drop 3.6 cents, reports EIA

By Staff
December 12, 2012

The average price per gallon of diesel gasoline fell 3.6 cents to $3.991 per gallon, the Department of Energy’s Energy Information Administration (EIA) reported this week.

This follows a 0.7 cent decline last week, and a 5.8 cent gain the week before. This week’s decline brought the average price per gallon under the $4 per gallon mark for only the third time in more than four months as well.

Compared to a year ago, the average price per gallon is up 9.7 cents, said the EIA.

In its recently updated short-term energy outlook, the EIA is calling for diesel prices to average $3.97 per gallon in 2012 and $3.84 in 2013, with WTI crude oil is expected to hit $94.26 per barrel in 2012 and $88.38 in 2013.

As previously reported, 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.

The focus from a supply chain management perspective, according to shippers, is more on utilization and efficiency by doing things like driving empty miles out of transportation networks.

Shippers have told LM that adjusting budgets is only part of the solution when it comes to dealing—and living—with fuel price fluctuation. 

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Article Topics

News · EIA · Diesel Prices · Diesel · All topics

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