Diesel prices head up 0.4 cents to $3.90 per gallon, says EIA
August 20, 2013
The average price per gallon for diesel gasoline increased 0.4 cents this week to $3.90 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).
This gain snapped two straight weeks of declining volumes down 1.3 cents and 0.6 cents, respectively. Those declines were preceded by four straight weeks of increases, during which time prices rose a cumulative 9.8 cents. That four-week stretch of gains more than erased the 7.3 cent cumulative decline which occurred over the previous three weeks prior to these recent gains.
Compared to this week last year, the average price per gallon is up 12.6, nearly doubling last week’s 6.9 cent spread.
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.
When asked if they expect to pay higher fuel surcharges in the coming months, a recent Logistics Management reader study of roughly 420 shippers found that 39.1 percent said yes they did, 44.1 percent said they did not expect to have to pay higher fuel surcharges, with 16.8 percent stating they were unsure.
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