The average on-highway price of a gallon of diesel is slowly creeping back toward the $3 mark, and the weather may well have something to do with it. According to the Energy Information Administration of the Department of Energy, the average price increased 3.6 cents to $2.936 a gallon for the week ending March 2.
Exploding oil trains-this was only the latest in a series-have emerged as a dangerous side effect of the U.S. energy boom. A lack of pipelines connecting new fields in North Dakota and Texas to refineries and shipping terminals has led to an almost 5,000 percent increase in the amount of oil moved by trains since […]
The recent slump in fuel prices is so far failing to ripple through the U.S. economy as the cost of services such as rents climbs, bolstering the Federal Reserve’s view that inflation will eventually reach their goal.
Diesel prices continue rebounding since hitting their lowest level in five years last month. New U.S. Energy Department figures show the national average price of on-highway diesel gained 3.6 cents over the past week to $2.936 per gallon. Compared to a year ago it is still $1.08 less. This latest increase is the fourth straight […]
The average on-highway price of a gallon of diesel increased 3.5 cents to $2.90 for the week ending Feb. 23, according to the Energy Information Agency of the Department of Energy
Consumer confidence fell more than forecast in February as the initial elation over a drop in fuel prices waned and Americans grew less optimistic about prospects for employment and income. A recent increase in gasoline costs from a six-year low may be curbing the enthusiasm of some households after a plunge in prices last year […]
The Federal Trade Commission has filed an administrative complaint charging that the proposed merger of Sysco and US Foods would violate the antitrust laws by significantly reducing competition nationwide and in 32 local markets for foodservice distribution services. Sysco operates the second largest private truck fleet, while U.S. Foods is ranked as fifth, according to […]
Spot market freight volume declined seasonally in January, falling 11% from an atypical December high, according to the DAT North American Freight Index. Volume also plummeted 27% compared to the same time in 2014. It was the first year-over-year decline in 19 months for the index that measures truckload freight demand and capacity.
A chronic shortage of drivers means America’s long-haul trucking companies are struggling to capitalize on cheap fuel prices that could allow them to take goods shipments away from railroads. A 50 percent fall in oil prices from their peak last year should have erased some of the cost advantage railroads enjoy, especially for longer hauls.
(This article requires registration at the Journal of Commerce. To access, please click on the above link.) Port congestion on the U.S. West Coast is estimated to have caused the diversion of as much as 150,000 TEUs to East Coast ports during 2014, according to Drewry’s Container Insight Weekly.
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