MY ETT News » prices

Diesel and Gas Prices Continue to Creep Up, Oil Prices fall

Rhonda Flathman — Tue, 07 Feb 2012 14:45:32 +0000

U.S. diesel prices are up again this week by less than a tenth of a cent to $3.856, while the nation’s gas prices are up by a little more than 4 cents to $3.482, according to the U.S. Department of Energy’s weekly report.

Both diesel and gas prices have been slowly creeping upward for the last month and a half, with the last price decrease taking place in mid-December, according to figures from the DOE’s Energy Information Administration. The current diesel price is up 34 cents from a year ago, and gas prices are up 35 cents this week from 2011.

On Monday, U.S. oil futures fell below $97 a barrel, the same day new sanctions were announced against the world’s third-largest exporter, Iran. The sanctions are supposed to make it harder for Iran to sell its oil through traditional banking routes. The idea is to force Iran to sell its oil at a discount, and reduce the oil revenue Iran uses to run its economy and fund its nuclear operations.

Abundant U.S. oil supplies kept prices in check despite the new sanctions against Iran. Crude supplies are expected to keep growing into spring as the petroleum industry ramps up drilling projects.

Brent crude prices rose to $1.35 to finish at $115.93 a barrel in London. The increase is due to winter storms that brought icy temperatures to much of Europe.

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Diesel and Gas Prices Drop For First Time in Three Weeks

Rhonda Flathman — Tue, 24 Jan 2012 21:38:38 +0000

For the first time in three weeks, average U.S. diesel and gas prices dropped, but only by less than a tenth of a cent for each. The current averages for diesel and gas are $3.848 and $3.389, respectively, down from last week’s $3.854 and $3.391.

For diesel, the only two regions that didn’t see a price decrease were New England, where the average diesel price rose by one tenth of a cent to $4.077, and California, where prices rose by half a cent to $4.121. As usual, California claims the highest average diesel prices in the country.

Crude oil futures settled higher this week after the European Union agreed to an embargo on oil imports from Iran starting July 1.

Light, sweet crude oil for March delivery on the New York Mercantile Exchange settled 1.3%, or $1.25 higher, at $99.58 a barrel. ICE North Sea Brent crude settled up 72 cents at $110.58 a barrel.

The EU embargo, which was widely expected, advances U.S.-led global efforts to restrict Iran’s economic lifeline because of what it says is Tehran’s refusal to halt efforts to gain nuclear weapons.

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Average diesel price drops 3.3 cents

Rhonda Flathman — Tue, 06 Dec 2011 16:55:54 +0000

The U.S. average diesel price declined for the second consecutive week after surpassing $4 a gallon, the first time it had hit that mark since mid-May, declining 3.3 cents to $3.931 for the week ending Monday, Dec. 5, according to the latest figures from the U.S. Department of Energy’s Energy Information Administration. The latest price is 73.4 cents higher than the same week last year.

All regions tracked by DOE saw falling prices, led by a 5.9-cent decline in the Rocky Mountains, where prices fell to $4.035. The smallest decrease was 0.9 cent in New England, where the average price is $4.036.

The nation’s most expensive diesel was in California, where the average price was down 5.2 cents to $4.172. The nation’s least expensive diesel was in the Gulf Coast region, where the average price was down 3.1 cents to $3.828

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Trends driving development of ‘low-cost’ trucks

Rhonda Flathman — Thu, 01 Sep 2011 16:54:17 +0000

Several trends, not the least of which are ever-growing equipment costs to keep pace with emissions mandates and safety systems, may contribute sooner rather than later to the development of “low-cost” trucks. Supporters are quick to note that this does not mean cheap, but rather a means for carriers to reap a return on their investments. Already, some carriers are opting for smaller engines and manual transmissions to cut costs where they can to help offset the higher price of complying with environmental regulations.

"Low-Cost" Trucks May Develop to Offset Costs of Emissions Regulations

DALLAS, TX. A mix of major trends, from increasing urbanization to the need for greater freight transport profitability, are combining to spur the development of “low-cost” trucks – especially as mandates for expensive emissions control and safety systems continue to impact trucking operations around the world.

Sandeep Kar, global director-commercial vehicle research for global consulting firm Frost & Sullivan, stressed repeatedly recently that the term “low-cost” truck should not be interpreted to mean “cheap” truck.