Diesel prices fall for sixth straight week, according to EIA

The price per gallon for diesel gasoline continued heading south, falling 0.8 cents to $3.783 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).

By ·

The price per gallon for diesel gasoline continued heading south, falling 0.8 cents to $3.783 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).

This most recent decline represents the sixth straight week prices have fallen, with prices down a cumulative 22.7 cents during that period. And prior to this four week decline, prices were up a cumulative 12.3 cents over a two-week period. This week’s price is the lowest price diesel prices have hit since the week of October 10, when it was at $3.721 per gallon.

Compared to the same week a year ago, the average price per gallon of diesel is up 45.2 cents, down sharply from annual comparisons in the mid-80s range just a few weeks ago.

Despite the recent weekly declines in the price per gallon for diesel, 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.

This was evident in the results of a recent Logistics Management reader survey, which found that nearly 40 percent of 344 respondents said their average fuel surcharges are 20 percent or more above base rates. 

Robert W. Baird and Co. analyst Benjamin Hartford wrote in a recent research note that though the modest decline [of diesel prices] in recent weeks provides some relief, the absolute level of fuel prices and the rise from the 4Q low of $3.72 in early October to over $4.00 in late November presents a modest headwind for truckers and railroads.

The price per barrel of oil was at $102.96 on the New York Mercantile Exchange late Tuesday. An Associated press report noted that “an improving U.S. economy” was providing a lift to oil prices, adding that crude oil has gone up significantly from the $75 per barrel range in October, “amid evidence the U.S. economy is slowly growing and may avoid recession this year.”


About the Author

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. Contact Jeff Berman

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 · Fuel · All Topics
Latest Whitepaper
Private Fleet vs. Dedicated: Which one is right for you?
Having the right fleet for your business can give you an advantage over the competition and lower transportation costs.
Download Today!
From the April 2017 Issue
While adoption rates have remained relatively flat, yard management systems (YMS) are helping logistics operations turn that important space between the loading dock and the gate into a vital link in the supply chain.
Information Management: Wearables come in for a refit
2017 Air Cargo Roundtable: Positive Outlook Driven by New Demand
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Maximize Your LTL Driver Adherence with Real-time Feedback
This webinar shows how companies are using real-time performance data to optimize the scheduling of their city fleets, as well as the routing of their standard, accelerated and time-critical shipments.
Register Today!
EDITORS' PICKS
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...

ASEAN Logistics: Building Collectively
While most of the world withdraws inward, Southeast Asia is practicing effective cooperation between...
2017 Rate Outlook: Will the pieces fall into place?
Trade and transport analysts see a turnaround in last year’s negative market outlook, but as...