Diesel Prices Firm Up

This marks the second straight weekly increase on the heels of a six-week stretch of declining prices, during which time prices dropped a cumulative 7.3 cents.

By ·

Diesel prices increased 3.9 cents to $3.867 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).

This marks the second straight weekly increase on the heels of a six-week stretch of declining prices, during which time prices dropped a cumulative 7.3 cents. But over the last two weeks (the average price per gallon was up 1.1 cents last week), that difference has nearly been made up with a 5 cent gain over the last two weeks.

This week’s tally marks the highest average price per gallon for diesel in the last seven weeks, going back to the week of June 3, when it hit $3.869 per gallon. What’s more, according to EIA data, it is the single highest weekly increase since rising 5.3 cents the week of February 18.

And on an annual basis, the average price per gallon is up 17.2 cents.

Prior to the gains of the last two weeks, the previous six straight weeks of declines were preceded by a two-week stretch which saw prices rise a cumulative 4.5 cents.

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.

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.


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

All Topics
Latest Whitepaper
Maximizing Your Sales Team’s Effectiveness
Companies need to examine how to restructure their sales team to respond to different customers and subsequent buying behaviors and preferences.
Download Today!
From the November 2017 Logistics Management Magazine Issue
An inside look at how a large pharmaceutical firm transformed its vendor and supplier relationships into true, collaborative partnerships—and greatly strengthened its logistics and supply chain operations in the process.
34th Annual Quest for Quality Awards: 2017 Awards Dinner
Trucking Regulations: Washington U-Turns; States put hammer down
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Make Your Products Smarter in the Supply Chain with the IoT
This webinar explores how temperature-sensing smart labels and inexpensive NFC tags are being used to extend product safety and efficiency beyond the shipping dock while also building a communication bridge to your customers.
Register Today!
EDITORS' PICKS
2017 NASSTRAC Shipper of the Year: Mallinckrodt; Mastering and managing complexity
An inside look at how a large pharmaceutical firm transformed its vendor and supplier relationships...
2017 Alliance Awards: Recognizing outstanding supply chain partnerships
In an era where effective supply chain collaboration is both highly valued and elusive, Logistics...

26th Annual Study of Logistics and Transportation Trends: Transportation at Digital Speed
While a majority of companies strongly agree that transportation is a strategically important...
34th Annual Quest for Quality Awards: Winners Revealed
Which carriers, third-party logistics providers, and North American ports have crossed the service...