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

Owners of corporate fleets and fuel buyers face two dilemmas: a limited supply of cost-effective, low greenhouse-gas fuels, and little information on fuel sustainability impacts across the full production and use value chain.

U.S. Carloads were up 5 percent annually at 294,738, and intermodal at 253,317 containers and trailers was up 3 percent.

When it comes to Congress actually getting its act together on a new long-term federal transportation bill, things remain as status quo as it gets, with the big takeaway being nothing really ever gets done, when it comes to passing a badly overdue and needed bill, rather than these band-aid extensions Congress keeps signing off on.

Truckload and intermodal pricing was up on an annual basis, according to the December edition of the Truckload and Intermodal Cost Indexes from Cass Information Systems and Avondale Partners.

While the official numbers won’t be issued until early February in its quarterly Market Trends & Statistics report, preliminary data for the fourth quarter and full-year 2014 intermodal output from the Intermodal Association of North America (IANA) indicates that annual growth was intact.

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