Subscribe to our free, weekly email newsletter!


Diesel prices fall 3.3 cents, says EIA

By Jeff Berman, Group News Editor
December 06, 2011

Following a 4.6 cent decline last week, the price per gallon for diesel fuel dropped another 3.3 cents this week to $3.931, according to the Department of Energy’s Energy Information Administration (EIA).

This marks the third time in the last five weeks the price per gallon has fallen, but the price per gallon as recently as two weeks ago cracked the $4 per gallon mark at $4.01. This marked the first time it had hit that level since checking in at $4.061 on May 16.

As LM has reported, in April and May there were multiple weeks in which the price per gallon of diesel was north of $4, before settling into the $3.70 to $3.90 range for most of the subsequent weeks. And prior to cracking $4 per gallon two weeks ago, the previous week saw the price per gallon spike ten cents, which was the single largest weekly gain since the week of April 11, when the price per gallon increased 10.2 cents to $4.105.

The price per gallon is now 19.3 cents below the 2011 high of $4.124 per gallon from the week of May 2, which is also highest level for diesel prices since August 2008, when prices were approaching $5 per gallon.

On an annual basis, the price per gallon is now up 73.4 cents, which is down from recent comparisons in the mid-80s range.

Meanwhile, the price per barrel of oil reached $102.44 on the New York Mercantile Exchange yesterday, which was its highest level since November 17, before dropping to $101.57, according to an Associated Press report.

Many shippers have told LM they are forecasting for steady fuel increases in their supply chain and transportation budgets should diesel prices continue to hover around the $4 per gallon mark.

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

DHL has released the third edition of its Global Connectedness Index (GCI), a detailed analysis of the state of globalization around the world.

The truck driver shortage is worsening, threatening the trucking industry’s ability to serve the nation’s supply chains. The shortage will almost certainly cause fleets’ costs to increase and shippers’ rate to continue to rise.

The Agriculture Transportation Coalition has asked the Administration to bring in a federal mediator to help resolve the negotiations, and if a strike or lockout occurs, the AgTC advocates the rarely-invoked Taft-Hartley Act.

While U.S. manufacturers and retailers have been bemoaning the ongoing labor/management crisis at West Coast ports, the situation is becoming increasingly dire for U.S. agriculture and forest products exporters.

Express delivery and logistics services provider DHL recently announced it has rebranded the name of its DHL Global Mail group to DHL eCommerce as part of a move geared towards providing customers with new services and solutions for new markets as e-commerce continues its rapid expansion within supply chain and logistics.

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