Diesel prices inch down for first time in three weeks, according to EIA

Diesel prices dipped slightly this week, falling 0.6 cents to $3.848 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).

By ·

Diesel prices dipped slightly this week, falling 0.6 cents to $3.848 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).

This represents the first decline in the last three weeks, with the previous two weeks accounting for a cumulative 7.1 cent gain.

On an annual basis, diesel is up 41.8 cents per gallon, which is down from comparisons in the mid-80s range just a few months ago. And while prices have largely been trending down prior to this recent increase, shippers have maintained that they are forecasting for steady fuel increases in their supply chain and transportation budgets should diesel prices continue to hover near or at the $4 per gallon mark.

As LM has reported, shippers continue to take steps to minimize the impact of fluctuating fuel costs. Over the years, they have maintained that this is imperative as higher diesel prices have the potential to hinder growth and increase operating costs, which will, in turn, force them to raise rates and offset the increased prices to consumers.

And when fuel prices see steady gains, the focus from a supply chain management perspective, tends to be more on utilization and efficiency by doing things like driving empty miles out of transportation networks, shippers told LM.

The price per barrel of oil was at $99.20 on the New York Mercantile Exchange earlier today. An Associated Press report stated that uncertainty over a Greek debt deal offset concerns that Iran could block shipments of crude in the wake of the European Union’s decision to embargo imports of Iranian oil.


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...