Subscribe to our free, weekly email newsletter!


Diesel prices fall for the fifth straight week, reports EIA

By Staff
June 25, 2013

Diesel prices dropped for the fifth straight week, with the average price per gallon falling $0.3 to $3.838 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).

With this most recent decline, diesel is now at its lowest average price per gallon since the week of July 30, which was $3.796.

Prior to this week, prices fell 0.8 cents, 2 cents, 1.1 cents, and 1 cent, respectively, over the previous four weeks for a cumulative 5.2 cent decline.

The four straight weeks of declines were preceded by a two-week stretch which saw prices rise a cumulative 4.5 cents. And 2 cent decline two weeks ago was the largest decline since a 3.6 cent decline during the week of April 29, according to EIA data.

Prior to the two-week stretch of increases, diesel prices declined for ten straight weeks and dropped a cumulative 31.4 cents. Prior to the previous ten weeks of declining prices, diesel prices rose a cumulative 26.5 cents over a six week span. And on an annual basis, the average price per gallon is down 1.7 cents.

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.

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!

Recent Entries

Supply chain security provider Freightwatch International has released its semi-annual report on cargo theft in the Asia Pacific region for the first half of 2014, which contains some heartening news for U.S. shippers reliant on trucking, warehousing and retail.

FedEx Ground, a subsidiary of FedEx Corporation, reports today that a decision by a three-judge panel of the United States Court of Appeals for the Ninth Circuit reversed previous rulings by the District Court for the Northern District of Indiana in three class action cases involving mostly former independent contractors for FedEx Ground

More talking remains before the deal is done

The transpacific U.S.-flag carrier has been ranked number one in the ocean carrier category for Logistics Management magazine's Quest for Quality award

This year, the Containerization & Intermodal Institute (CII) will be staging the “Connie” Awards dinner in conjunction with IANA’s Intermodal EXPO in Long Beach

Article Topics

News · EIA · 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