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

The Nicaragua Canal will be three times the length of the Panama Canal, crossing the major Lago de Nicaragua, one of the largest freshwater reservoirs in the region.

FTR and Internet Truckstop said that this alliance will provide shippers and carriers with myriad benefits, including market analysis and specificity for contract and spot freight segments by region and trailer type.

Commerce reported that August retail sales at $444.4 billion were up 0.6 percent compared to July and up 5.0 percent compared to August 2013, and the NRF said that August retail sales, which exclude automobiles, gas stations, and restaurants, were up 0.5 percent compared to July and up 2.7 percent on an annual unadjusted basis.

Carload volumes were up 2.7 percent at 286,002, and intermodal volume was up 4.5 percent at 239,142 trailers and containers.

Non asset-based 3PL XPO Logistics said this week that three global blue chip institutions––PSP Investments, Singapore’s sovereign wealth fund called GIC, and the Ontario Teachers’ Pension Plan–– have invested a cumulative $700 million into XPO, which company officials said will be used to accelerate its growth strategy and allocated mainly for unspecified acquisitions.

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