Diesel Prices Fall, Gasoline Rises

As the holiday week opened, diesel prices continued their recent downward trend, while gasoline prices crept back upward.

The Department of Energy's Information Administration reported a nationwide drop of 2.2 cents in the price of a gallon diesel earlier this week. The average price was $3.92 per gallon.

The steepest decrease in diesel and the cheapest overall prices were seen in the Rocky Mountain region, where prices fell 7.5 cents per gallon to rest at $3.79.

The most expensive diesel prices can still be found on the East Coast, specifically in the New England and Central Atlantic regions, where prices are still over the $4-mark.

Kevin Brown, fleet manager at Conley Trucking outside of Buffalo, N.Y., last week said diesel prices were $4.23 per gallon, well above the average reported for the region. "We have had some of the highest prices in New York ... and yet much closer to suppliers than most," he said.

Gasoline prices climbed incrementally across the nation by 0.3 cents to land at $3.26 per gallon. The cheapest gasoline prices can be found in the Gulf Coast region at $3.10 per gallon.

Crude oil, meanwhile jumped up by $2.37 to $90.98 a barrel on the New York Mercantile Exchange yesterday, the highest settlement since Oct. 18, as President Obama and Congress return to Washington today to discuss how to avoid more than $600 billion in expiring tax cuts and mandatory spending cuts scheduled for January -- aka the "fiscal cliff."
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Fall of Diesel Prices Slows

While nationwide diesel prices at the pump saw a decrease this week, it was a small one. The average price for a gallon of diesel fell only four-tenths of a cents to $3.967, according to the weekly U.S. Energy Information Administration's Gasoline and Diesel Fuel Update.

Some regions have seen an increase in diesel prices this week, including regions along the East Coast and in the Midwest. Diesel prices jumped the most, 2.3 cents, in the Lower Atlantic region to $3.94 a gallon, which is still below the national average.

Diesel still tops $4 per gallon in the Rocky Mountain Region and on the West Coast. The highest prices for diesel can be found in California, where the average price per gallon is $4.14.

Gasoline prices also continued to decline this week as the nationwide average price per gallon dropped 2 cents to rest at $3.43. Prices did see a slight increase in the Midwest region, 1.3 cents, according to the report, the only region in the U.S. to see an increase in gasoline prices this week.

The Huffington Post reports that the price for benchmark crude closed at its highest point since Oct. 22 at $89.28. Reasons cited for the rise in price of oil are concerns about current unrest between Isreal and Hamas in the Middle East, and - to a lesser degree - the U.S. "fiscal cliff" situation.

Diesel update

Gasoline, Diesel Prices Drop Slightly
This week the price at the pump for a gallon of diesel or a gallon of gasoline decreased marginally from last week.

Although the average price of a gallon of diesel fell nationally, it was by less than 1 cent, according to the U.S. Energy Information Administration's weekly report. Specifically, diesel fell by 0.7 cents to land at an average of $4.08 per gallon.

Although the price of diesel has been falling the past few weeks, the price per gallon is still on average 33 cents above where it was one year ago.

Prices remain highest on the West Coast, which saw a slightly larger decrease at 2.2 cents per gallon. The price for a gallon of diesel on the West Coast is an average of $4.30. The highest prices are seen in California with a gallon of diesel costing on average $4.38.

The price for a gallon of gasoline also fell this week, on average 2.2 cents per gallon nationally to rest at $3.80.

Benchmark crude oil rose 29 cents on Monday to close at $92.48 per barrel, as investors took heart in a report showing U.S. manufacturing activity rose in September for the first time in four months.

Diesel, Gasoline Prices Rise Again

Diesel prices rose again last week, with the U.S. Department of Energy reporting a national average of $3.85, up 5.4 cents from last week, while gasoline price surged by 13.7 cents per gallon.

Diesel prices topped the $4 mark in California, where the average price was up 5.6 cents to $4.023, driving overall West Coast prices to an average of $3.959. The lowest prices were in the Gulf Coast region at $3.752. Prices rose in every region of the country.

Gasoline prices are on the rise as well; the average price rose in every region of the country except the Rocky Mountain region. The national average is $3.645, up 13.7 cents over the previous week. The jump was driven by a more than a quarter-per-gallon hike in the Midwest region to $3.772.

Future prices for light, sweet crude for September delivery rose 80 cents, or 0.9%, to settle at $92.20 a barrel on the New York Mercantile Exchange Monday, the highest settlement price since July 19. Crude oil future prices have risen nearly 20% since hitting a low of $77.69 in late June.
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Diesel, Gasoline, Oil Prices Spike This Week

The average U.S. price of both diesel and gasoline rose this week, according to data from the Energy Information Administration. Also, oil prices climbed for a fourth day this week.

The price of diesel rose 1.2 cents to $3.695 per gallon. The only region to experience a fall in prices was the Rocky Mountain region. Diesel prices are down 22.8 cents from one year ago.

Gasoline prices rose 1.6 cents to $3.427 per gallon. However, the Midwest, Rocky Mountain and West Coast less California regions all experienced price decreases. Gas prices are down 25.5 cents from this time last year.

Oil prices have risen four consecutive days this week in hopes that the Federal Reserve will take more steps to boost the economy, reports the Associated Press.

Benchmark U.S. crude on Monday rose $1.33 to end at $88.43 per barrel in New York, while Brent crude rose by $1.95 to finish at $103.37 per barrel in London.

The Federal Reserve is considering a new strategy to boost consumer spending, and analysts are anticipating that Fed Chairman Ben Bernanke will speak on this when he addresses Congress on Tuesday and Wednesday this week. As consumers spend more and the economy strengthens, demand for oil is likely to rise.

For more information: www.eia.gov/petroleum/gasdiesel

Finally, good new for gas prices!

Diesel Drops to Lowest Price of 2012

Diesel and gasoline prices fell for the ninth straight week, bringing diesel prices to their lowest so far for 2012 and gasoline prices to their lowest since February. Oil prices fell again this week due to skepticism about Europe's debt crisis.

Diesel prices dropped 6.5 cents this week to $3.781 per gallon, according to a weekly report from the U.S. Department of Energy. California saw the biggest regional decrease, with prices dropping 12 cents to $3.902. Diesel prices are down more than 17 cents from a year ago.

U.S. gasoline prices also fell this week, by an average of 4 cents to $3.572. The West Coast had the biggest decrease with a drop of 9.2 cents to $4.093. Currently, the Gulf Coast is the region with the lowest gasoline prices, an average of $3.311.

Despite a boost for Spain's economy in the form of a $125 billion bailout loan for its banking system, analysts are still skeptical about the debt crisis in Europe. That skepticism caused oil prices to fall this week. Benchmark oil fell $1.40 to $82.70 per barrel in New York. Brent crude settled at 81 cents to $98.66 per barrel in London.

Spain is the fourth European country to request financial help since the start of the debt crisis, after Greece, Portugal and Ireland.

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Diesel prices drop below $4 for first time in 3 months

The national average retail diesel price fell 4.8 cents to $3.956 a gallon for the week ended Monday, May 21, according to the U.S. Department of Energy’s Energy Information Administration. The price has fallen 19.2 cents in the last six weeks and fell below $4 a gallon for the first time since the week ended Feb. 20 and is 4.1 cents below the same week in 2011.

Average retail prices fell in all regions, led by a 6.2-cent decrease in the New England. The nation’s cheapest diesel was $3.854 in the Midwest, while the most expensive was $4.303 in California.

Complete diesel price information is available on EIA’s Website

Fuel Prices Keep Falling, Greek Economy Affects Oil Prices

Diesel and gasoline prices dropped for the fifth straight week, but oil prices continue to fall due to concerns over Europe, particularly Greece's economy.

Diesel fuel prices dropped by an average of 5.3 cents to $4.004 a gallon, according the the Energy Information Administration's weekly fuel upstate. This is the lowest the average price of diesel has been since late February. Prices are down by an average of 5.7 cents from a year ago.

Gasoline prices dropped by 3.6 cents this week to $3.754 a gallon. That's more than 20 cents lower than gasoline prices a year ago. Prices in the West Coast, the only region to see an increase, went up 12 cents.

Light, sweet crude oil for June delivery on the New York Mercantile Exchange settled $1.35 lower, at $94.78 a barrel, a new low for 2012. The decrease is due to mounting concerns about Greece's economy and rising global oil supplies.

Traders said oil prices are heading for a critical juncture around $92.50 a barrel. This could clear the way for prices as low as $85 a barrel, a level not touched since last October.

Story from truckinginfo.com. To see the EIA's complete weekly fuel update, click here.

Wawa coming to Tampa

Wawa is a convenience store and gasoline station with a twist — food service comes first, gas sales, second. This unique convenience store might soon replace a former Italian chain restaurant in Tampa at 401 N. Dale Mabry Highway. The stores are native to the north but have been making their way south and just broke into Florida. Wawa also has other plans for building stores in Orlando as well as more loations in Tampa. The residents of the community have mixed feelings about rezoning the land, but I think this would be a great thing for truck drivers. Professional drivers already have a difficult time eating decent meals simply because they lack a fully stocked kitchen. The majority of the time drivers just go in a grab something while their refueling. For this reason, these stores can have a huge impact on the lives of drivers. While gassing up they could have the opportunity to buy something more than a Slim Jim, a bag of chips and a large soft drink. Hopefully these type of stores will continue to thrive and potentially improve life on the road.

From their website: Wawa offers a large fresh food selection, including Wawa brands like Built-to-Order® Hoagies which come in four sizes: the Junior, Shorti, Classic, and Two-Footer. We are also proud to offer our award-winning Freshly Brewed Coffee (over 195 million cups sold each year), the Sizzli® hot breakfast sandwich, quality dairy products and Wawa brand juices and teas. All Wawa stores feature a wide selection of ready-to-go salads, and fresh fruits.

The economy continues to recover

Given that transportation more than 10% of the national GDP, it’s no surprise that as we continue to see trucking rise, the economy is rising with it. Manufactured goods as well as petroleum and coal are on the rise. Unfortunately, nothing so far this year has been consistent. January new orders for manufactured durable goods declined 3.7%, and new orders for nondurable goods rose 1.3%. Flatter rates indicate a sluggish economy and adequate capacity. Fuel costs have risen, but total spending does not seem to reflect this increase, and some think this has to do with fuel rising. Some experts conclude that carriers have eased up on base rates to compensate for higher fuel charges.

So although transportation and the economy are on their steady path to recovery, an immediate turnaround is unlikely. Unemployment is dropping but consumers are still spending their biggest share of their paychecks on necessities. We can only hope that transportation will continue to rise despite the cost of fuel and will continue to help grow the over economy.

Read more here: http://truckinginfo.com/news/news-detail.asp?news_id=76287