The Department of Energy’s monthly short-term energy outlook projects that diesel fuel will average nearly $3 a year before eclipsing that mark in 2011. Gasoline will rise to $2.84 a gallon this year from $2.35 last year and continue climbing to an average $2.97 in 2011, DOE said, pinning the gain to projected higher crude Continue Reading

Diesel prices are expected to hold steady for the rest of this year, but the average price per gallon is projected to jump by a nickel in 2010, according to the Department of Energy. For the rest of 2009, expect to see $2.46 per gallon at the pump, but next year fuel is forecast to average $2.84, up from its previous estimate of Continue Reading

With the uncertain stability of fuel prices hanging above the trucking industry like a Damocletian sword, the American Trucking Association (ATA) is taking on the Commodity Futures Trading Commission (CFTC), calling for regulation to help combat volatility in 2008 costs that put some carriers out of business and left many others Continue Reading

A Missouri senator is again trying to fire up support for a bill that would require installing a device at retail fuel pumps that would ensure consumers get as much as they pay for. The Future Accountability in Retail Fuel Act of 2009 — or FAIR Fuel Act — calls for the use of automatic Continue Reading

Though the American Trucking Association is one of several groups who have petitioned Congress to help rein in fuel speculation, it has not yet endorsed the recent tax on speculative oil trades introduced by a leading Democrat on the House Transportation and Infrastructure Committee. The proposed 0.02 percent tax on Continue Reading

Orders and sales for Class 8 trucks seem to be stabilizing, though at historically low levels, according to research firm FTR associates, but it is uncertain when sales will pick up again. Several factors complicate the outlook, including the wealth of under-used equipment. 2009 Class 8 production is expected to Continue Reading

The American Trucking Association, along with 80 trade associations, are petitioning Congress to help prevent excessive speculation in commodities markets in hopes of preventing the record high fuel prices experienced last summer. Since March, gasoline has risen more than Continue Reading

Lower retail diesel fuel and gasoline prices are projected to hold steady, accordng to the U.S. Energy Information Admin. The monthly outlook released by the agency predicts diesel will average $2.27 per gallon, while retail gas prices will average $1.87. In the same report, fuel consumption will take a slight tumble from 2008 numbers in 2009, while an increase is projected in 2010 in the anticipation of a recovering global economy.

Oil was steady early Friday after closing Thursday below $37 a barrel on the New York Mercantile Exchange, the first time it closed below $40 in more than four years, Bloomberg reported.

Crude futures fell $3.84 Thursday to close at $36.22 on the Nymex, and the continuing decline showed that OPEC’s decision Wednesday to cut production volumes by 2.2 million had little immediate effect on prices, Bloomberg said.

Oil closed at a record $145.18 a barrel on July 14, and has fallen steadily since then.
 
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