Diesel prices fall 1.6 cents, reports EIA

The average price per gallon of diesel gasoline fell for the sixth time in the last eight weeks, the Department of Energy’s Energy Information Administration (EIA) said this week.

By ·

The average price per gallon of diesel gasoline fell for the sixth time in the last eight weeks, the Department of Energy’s Energy Information Administration (EIA) said this week.

The average price per gallon dropped 1.6 cents to $3.87 per gallon, following no change in price last 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.

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.


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!

Article Topics

Diesel · Diesel Prices · EIA · All Topics
Latest Whitepaper
Identify Cost Savings with Real-Time Visibility
To offset the impact of late shipments, unreported delays and detention, shippers are increasingly requiring 100 percent visibility into the location and status of their freight.
Download Today!
From the August 2017 Logistics Management Magazine Issue
Which carriers, third-party logistics providers, and North American ports have crossed the service excellence finish line ahead of their competitors? Our readers have cast their votes, and now it’s time to introduce this year’s winners of the coveted Quest for Quality Awards.
BMW Takes the Inland Road to Efficiency
Global Logistics: No Shortcuts to Security
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Getting the most out of your 3PL relationship
Join Evan Armstrong, president of Armstrong & Associates, as he explains how creating a balanced portfolio of "Top 50" global and domestic partners can maximize efficiency and mitigate risk.
Register Today!
EDITORS' PICKS
34th Annual Quest for Quality Awards: Winners Revealed
Which carriers, third-party logistics providers, and North American ports have crossed the service...
2017 Top 50 3PLs: Investment and Consolidation Maintain Traction
The trend set over the past few years for mergers and acquisitions has hardly subsided, and a fresh...

2017 Salary Survey: Fresh Voices Express Optimism
Our “33rd Annual Salary Survey” reflects more diversity entering the logistics management...
LM Exclusive: Major Modes Join E-commerce Mix
While last mile carriers receive much of the attention, the traditional modal heavyweights are in...