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

So far, so good may be the best way to describe the current state of progress in the negotiating process regarding the announcement made last month by FedEx that it plans to acquire Netherlands-based TNT-NV and a provider of mail and courier services and the fourth largest global parcel operator for $4.8 billion.

A new study, “Understanding Risk Assessment Practices at Manufacturing Companies,” uncovers complex business risks and disruptors facing manufacturers, and a pressing need for the industry to evolve its risk assessment capabilities.

Led by perennial earnings champ Old Dominion Freight Line, the nation’s LTL carriers as a group are enjoying a particularly strong earnings season—especially when one considers the first quarter usually is the slowest period for trucking in general with harsh winter weather bearing down on earnings.

A mixed bag may be the most appropriate way to characterize the current state of manufacturing based on the most recent edition of the April edition of the Manufacturing Report on Business issued by the Institute for Supply Management today.

The Department of Transportation’s Federal Railroad Administration and Pipeline and Hazardous Materials Safety Administration (FRA) issued its long-awaited Final Rulemaking for “Enhanced Tank Car Standards and Operational Controls for High-Hazard Flammable Trains.”

Article Topics

News · EIA · Diesel Prices · Diesel · 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