Diesel prices fall 4.6 cents, reports EIA

Diesel prices continued to head south this week, with the Department of Energy’s Energy Information Administration reporting that the average price per gallon fell 4.6 cents to $3.945 per gallon.

By ·

Diesel prices continued to head south this week, with the Department of Energy’s Energy Information Administration reporting that the average price per gallon fell 4.6 cents to $3.945 per gallon.

This decline comes after a 3.6 cent drop last week. Diesel prices have been down consistently of late, with the average price per gallon falling eight times in the last nine weeks. It has been below the $4 per gallon mark in four of the last six weeks.

Compared to a year ago, the average price per gallon is up 11.7 cents, said the EIA. And since reaching a more than four year high of $4.15 per gallon the week of October 15, the average price per gallon has fallen a cumulative 20.5 cents.

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. 


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
The Cloud Supply Chain Data Network
Understanding the Power of a Shared Online Network to Connect Global Partners and Achieve High Data Quality Levels
Download Today!
From the November 2016 Issue
The third time is the charm for this U.S. manufacturer on the hunt for a third-party logistics (3PL) provider that could successfully combine transportation services and technology capabilities under one roof.
Warehouse & DC Operations Survey: Ready to confront complexity
2016 Quest for Quality Awards Dinner
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Digital Evolution: Streamlining Logistics and Supply Chain Operations
In this FREE virtual conference we'll define the challenges facing operations and offer solutions designed to create dynamic, automated networks that offer seamless communication, improved collaborative third-party relationships, and the ability to respond to changes at a moment's notice.
Register Today!
EDITORS' PICKS
Making the TMS Decision: Ariens Finds Just the Right Fit
The third time is the charm for this U.S. manufacturer on the hunt for a third-party logistics (3PL)...
Motor Carrier Regulations Update: Caught in a Trap
The fed is hitting truckers with a barrage of costly regulations in an era of scant profits....

25th Annual Masters of Logistics
Indecision revolving around three complex supply chain elements—transportation, technology and...
2016 Quest for Quality: Winners Take the Spotlight
Which carriers, third-party logistics providers and U.S. ports have crossed the service-excellence...