Filed in Oil
Thursday, December 01, 2011
Driven by the boom in shale oil production from the Bakken formation that straddles the Montana/North Dakota border, U.S. oil production has climbed steadily since 2008 after declining for 22 of the previous 23 years. This fact alone might lead logistics professionals to the conclusion that price relief is just around the corner. Well, it isn’t.
Wednesday, November 16, 2011
Diesel prices were up a full dime, with the price per gallon hitting $3.987.
Saturday, October 01, 2011
Many believe that high or rapidly rising oil prices cause recessions; but in turn, during a recession, industrial production and demand for transportation decline. Consequently, the price for oil and fuel falls, and as it declines, the economy is stimulated.
Tuesday, September 20, 2011
This follows a 0.6 cent decline last week, which was preceded by a 5.8 cent gain over the previous two weeks.
Tuesday, September 13, 2011
Following two weeks in increasing prices after a month of declines, diesel prices dipped 0.6 cents to $3.862 per gallon, according to the Department of Energy’s Energy Information Administration.
Wednesday, September 07, 2011
Diesel prices were up for the second straight week following a month of declining prices, increasing 4.8 cents to $3.868 per gallon, according to the Department of Energy’s Energy Information Administration.
Tuesday, August 02, 2011
Following a cumulative 9.9 cent gain over the previous three weeks, the Department of Energy’s Energy Information Administration (EIA) reported this week that the price per gallon of diesel dropped 1.2 cents to $3.937.
Monday, August 01, 2011
If natural gas continues to be significantly less expensive than diesel, it would make sense that some portion of the transportation sector would convert from diesel to natural gas. But in doing so, demand for diesel would decline relative to demand for natural gas—and this would cause price convergence. How are are we from this reality?
Wednesday, July 06, 2011
Prices dipped 3.8 cents to $3.85 per gallon, following a 6.2 cent decline last week, which represented the steepest weekly decline since falling 6.4 cents the week of May 23.
Friday, July 01, 2011
OPEC failed to revise production quotas, and upon learning of this decision, traders quickly bid the price back up
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