Subscribe to our free, weekly email newsletter!


Diesel prices jump up nearly 9 cents, says EIA

By Staff
February 14, 2012

With an 8.7 cent increase, the price per gallon or diesel is now at $3.943 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).

Diesel prices have gone up in six of the past seven weeks, with prices up a cumulative 20 cents since the week of January 2. Prior to that, prices dropped a cumulative 22.7 cents in the previous six weeks.

Compared to a year ago, diesel prices are up 40.9 cents per gallon, which is down sharply 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.

And the EIA also reported last week that in its Short-Term Energy Outlook the 2012 average for diesel is up six cents from January at $3.91 per gallon, with 2013 pegged at $3.99. The 2011 average was $3.84.

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.

The price per barrel of oil was at $101.46 on the New York Mercantile Exchange earlier today, which remains in line with prices in recent weeks fluctuating around the $100 per barrel mark.

An Associated Press report indicated that while oil has hovered around the $100 mark in recent months amid signs the U.S. economy is improving, crude supplies have been rising which suggests demand remains weak.

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

Key sanctions are unlikely to be fully removed until Congress lifts the U.S. embargo on Cuba – something unlikely to take place before 2018 when incumbent president Raúl Castro is expected to step down

The PMI, the ISM’s index to measure growth inched up 0.7 percent to 53.5 over May’s 52.8. This reading marks sequential growth for the third month in a row, which was preceded by five months of sequential declines.

Foreign direct investment has never been more important in catalyzing growth, whether in the developed or developing world. Although equity markets around the world have largely recovered since the financial crisis, global capital flows have contracted sharply.

When it comes to the chances of the December 31, 2015 Positive Train Control (PTC) deadline being extended, something which railroads say is badly needed, it appears they need to be prepared to be disappointed. That was the chief takeaway of a statement from Sarah Feinberg, acting administrator of the United States Department of Transportation’s Federal Railroad Administration (FRA).

It’s said that innovation will lead the economy out of its current funk. But how does an organization become a perpetually innovative company? That’s one of the questions Kai Engel and his co-authors at A.T. Kearney set out to answer in their new book Masters Of Innovation.

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