Subscribe to our free, weekly email newsletter!


Diesel prices drop for the second straight week

By Staff
May 13, 2014

After two weeks of increases, diesel prices have now fallen for the last two weeks, according to data released by the Department of Energy’s Energy Information Administration (EIA).

The average price per gallon dropped 1.6 cents to $3.948 per gallon after a 1.1 cent decline last week. The gains over the previous two weeks before these declines of 0.4 cents and 1.9 cents, respectively, marked the first weekly increases since the week of March 10, which saw a 0.5 cent increase to $4.021, which marked the highest weekly price in a year. Even with these recent declines, the current average price per gallon of $3.948 is only 7.3 cents less than the year-to-date high of $4.021.

On an annual basis, diesel is up 8.2 cents and on a year-to-date basis (since January 6) is up 3.8 cents.

As LM has reported, with prices continuing to hover around the $4 per gallon mark adjusting budgets is only part of the solution when it comes to dealing—and living—with fuel price fluctuation, according to shippers.

In some cases they look for hedge diesel prices when it is applicable, shippers have told LM. This involves committing to a certain price on fuel at which pay to a certain rate at which point it is frozen at that rate for the shipper. And it also requires shippers to be focused on keeping their drivers on the road as much they can and being profitable and not in detention.

Other steps being taken by shippers to combat high fuel prices include things like focusing more on utilization and efficiency by doing things like driving empty miles out of transportation networks.

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 PMI, the ISM’s index to measure growth, fell 1.4 percent to 51.5 (a PMI of 50 or greater represents growth), declining for the fifth straight month since reaching 57.9 in October 2014. And it is 4 percent below the 12-month average of 55.5. The March PMI is at its lowest level since May 2013’s 50.1.

How the food giants integrate supply chain operations is one of the most interesting components of the recently-announced merger between H.J. Heinz Co. and The Kraft Foods Group.

The new online offering is entitled “Vessels at a Glance” and is comprised of a daily update that shows all vessels at berth and anchor within POLB, as well as the Port of Los Angeles (POLA). It also includes information relating to vessel arrival and departure dates and length of stay in Long Beach, too, along with weekly updated charts that show the number of vessels at anchor at POLB and POLA that POLB officials said illustrate trends occurring over the last six months.

The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that U.S. trade with its North America Free Trade Agreement partners Canada and Mexico in January dropped 1.2 percent to $89.3 billion.

Download our new white paper, "The ABCs of HST: Understanding the Harmonized System of Tariffs," for insights and explanations of the complex cross-border classification codes.

Article Topics

News · EIA · Diesel Prices · All topics

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