Subscribe to our free, weekly email newsletter!


Diesel prices increase nearly 5 cents

By Staff
February 04, 2014

Diesel prices were up significantly this week, according to the Department of Energy’s Energy Information Administration (EIA).

The average price per gallon increased 4.7 cents to $3.951, following last week’s 3.1 cent gain. Prior to these two weeks on rising prices, diesel dropped a cumulative 3.7 cents over the previous two weeks, when prices fell 1.3 cents and 2.4 cents, respectively. Those two weeks of declines were preceded by three weeks of gains for a cumulative 3.9 cents.  And those gains were preceded by two weeks of declines for a cumulative 1.2 cent drop during the weeks of December 9 and December 17. On an annual basis, the average price per diesel is down 7.1 cents.

This week’s average price is the highest in 2014 on a year-to-date basis and the highest since hitting $3.974 the week of September 16. And based on EIA data, much of the increase in prices is due in part to gains in the Northeast, with the East Coast average at $3.946, New England at $4.118, Central Atlantic at $4.060, and Lower Atlantic at $3.829.

Logistics Management oil and gas columnist Derik Andreoli recently observed that on the diesel side, oil production in the U.S. and Iraq continues to grow rapidly while emerging market demand will continue its lackluster performance.

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.

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

AgTC will provide unique market intelligence at next annual meeting in San Francisco this June

With no fuel tax increase likely ahead of this year’s mid-term elections, trucking interests in Washington are moving to Plan B in their attempt to shore up funding for badly needed infrastructure improvements.

Crowley Maritime Corporation has acquired majority ownership of Accord Ship Management (HK) Limited and Accord Marine Management Pvt. Ltd.

To catch a rising economic tide this year, the Port of Long Beach will need to modernize and find new efficiencies to move increasing amounts of cargo at a faster pace, said experts gathered earlier this month for the Port’s 10th annual “Peak Season Forecast” at the Long Beach Convention Center.

Article Topics

News · EIA · Diesel Prices · 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