Subscribe to our free, weekly email newsletter!


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

By Staff
January 24, 2012

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!

Recent Entries

When an industry is changing rapidly, companies must adapt in order to survive. In this whitepaper, a global publisher was seeking a partner that could mitigate risk and build a platform flexible enough for their shifting customer expectations. The solution enabled the company to rewrite their operations game plan and transform their supply chain.

Global trade management technology provider Amber Road (formerly known as Management Dynamics) said this week it has acquired ecVision, a cloud-based provider of global sourcing and collaborative supply chain solutions.

While it is already reaping myriad benefits from ORION (On-Road Integrated Optimization and Navigation), a proprietary routing platform for its drivers rolled out in late 2013, transportation and logistics bellwether UPS announced big plans for the technology this week.

Diesel prices continued their recent stretch of gains with a 3.6 cent increase this week to $2.936 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).

TSA has reaffirmed its March 9 general rate increase (GRI) of $600 per 40-foot container (FEU) for all shipments, and lines have also filed a previously announced April 9 GRI in the same amount.

Article Topics

News · EIA · Diesel Prices · Diesel · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA