Diesel average falls 1.6 cents to $2.786 per gallon, reports EIA

The Department of Energy’s Energy Information Administration (EIA) reported earlier this week that the average price per gallon of diesel gasoline dropped 1.6 cents to $2.786 per gallon.

The Department of Energy’s Energy Information Administration (EIA) reported earlier this week that the average price per gallon of diesel gasoline dropped 1.6 cents to $2.786 per gallon.

This snaps a stretch of recent gains in recent weeks, due to the impact of Hurricanes Harvey and Irma on freight transportation and logistics operations. From the week of August 28 to the week of September 4 after Harvey hit Texas that week’s average price jumped 15.3 cents to $2.758 per gallon, which at that time was the highest weekly level going back to $2.782 from the week of July 20, 2015 and the largest weekly gain since March 2011.

On an annual basis, this week’s average price per gallon is up 39.7 cents.

The average price per barrel of West Texas Intermediate Crude oil on the New York Stock Exchange is $49.91, which is in close range to last Thursday’s almost -four month high of $50.50.

“They’re still working out the aftermath of the hurricanes,” said John Kilduff, a partner at Again Capital Management in New York., in a Reuters report. “The big thing about this week is that the inventory reports are going to be bearish for crude.” And he added that even as oil refineries restart, imports at reopened ports are likely to drive up stockpiles, he said.

Analysts at Fleet Advantage, a provider of truck fleet business analytics, equipment financing and asset management, told LM that the shortfall that may occur with oil and refining capabilities, as a result of Harvey,  will surely create an under capacity situation and fuel prices will likely increase.

“Capacity and volume demand drive price and volume demand and capacity will likely become unbalanced,” the company said. “We can expect prices to increase not only on fuel but also on supplies and materials. Production will be affected negatively and other production resources outside of the disaster areas will have to fill in behind the damaged plants. We always counsel our fleet truck partners to pay close attention on fuel and diesel prices, even when prices are low. Diesel can represent a significant portion of operational costs for a truck fleet company, which is why many are now shifting their strategies to a shorter operational lifecycle. This ultimately helps drive down costs not only for the fleet operator, but throughout the supply chain.”


Article Topics
Diesel   Diesel Prices   EIA   All topics


Comments
You must be logged in to post a comment. Login.

About the Author
Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman
 
Latest News
10 Questions to Ask Prospective Warehouse Management System Vendors
During your decision-making process with WMS vendors, as well as asking about functional requirements, make sure you ask questions about system performance and scalability, security and data protection,…

Onnit Customer Success Story with SkuVault Warehouse Management System
Onnit is a brain, workout, and health supplements company based in Austin, TX., learn how a SkuVault Warehouse Management System and ShipStation integration helped the business scale and decrease mis-ships…

RightHand Robotics Picking Up Where Amazon’s Kiva Systems Left Off
RightHand Robotics, a Somerville, Mass-based company founded in 2014 by Leif Jentoft and Yaro Tenzer, closed a $23 million Series B round for its RightPick robotic piece-picking technology.

Honeywell and Fetch Robotics Deliver Autonomous Mobile Robots to DCs
Expands smart robotics portfolio to help warehousing operations fulfill growing e-commerce orders more efficiently.


 

24|7 Pro Team

The 24|7 Team is your direct pipeline to solutions for your business challenges. It's your opportunity to have supply chain and logistics experts look at your specific challenges and needs, and give you free, no-obligation advice, solutions, and information.

The 24|7 Team will simplify the task of creating a database of likely partners, building your knowledge base, and preparing your Request for Proposal list.

1
  Choose a topic for your RFP

Transportation RFP/RFI

The Transportation RFP is your direct pipeline to solutions for your transportation challenges. It's your opportunity to have logistics experts look at your specific transportation challenges and needs, and give you free, no-obligation advice, solutions, and information specific to your request.

Choosing the perfect software or system can be an indomitable challenge. Using this transportation/TMS RFP will simplify the task of creating a database of likely partners, building your knowledge base, and preparing your Request for Proposal list.

Warehouse/DC Management RFP/RFI

The Warehouse Management Systems (WMS) RFP is your direct pipeline to solutions for your WMS challenges. It's your opportunity to have logistics experts look at your specific WMS challenges and needs, and give you free, no-obligation advice, solutions, and information specific to your request.

Choosing the perfect WMS solution can be an indomitable challenge. Using this WMS RFP will simplify the task of creating a database of likely partners, building your knowledge base, and preparing your WMS Request for Proposal list.

Supply Chain RFP/RFI

The Supply Chain RFP is your opportunity to have logistics experts look at your specific challenges and needs, and receive free, no-obligation advice, solutions, and information. It simplifies finding a pool of likely partners, building your knowledge base, and preparing your Request for Proposal list. The companies in the Logistics Planner have agreed to respond to your request for in-depth information and follow-up, and your request is totally confidential.

Software/Technology RFP/RFI

The Software/Technology is your direct pipeline to solutions for your logistics information technology challenges. It's your opportunity to have logistics experts look at your specific technology challenges and needs, and give you free, no-obligation advice, solutions, and information specific to your request. Whether it's WMS, TMS, Mobile or Cloud, our pros can help.

The companies listed below have agreed to respond to your request for in-depth information and follow-up. Your request is totally confidential.

Executive Education RFI

The Logistics and Supply Chain Education RFI can help you identify the schools, coursework, continuing education, distance learning and certification opportunities available from leading logistics educational institutions.

Upgrade and improve your logistics and supply chain skillsets. Whatever route you choose—advanced degree, executive education, certification or distance learning—the time and money you invest in your education today can pay off in continued career success tomorrow. Contact leading universities and professional institutions for the information you need to prepare for the future.

Third Party Logistics RFP/RFI

This 3PL Request for Proposal (RFP)/Request for Information (RFI) can help you find the 3PL and 4PL providers that can meet your specific 3PL service challenges and needs. The 3PL companies below will provide free, no-obligation third-party logistics advice, solutions, and information.

Ask your 3PL questions, you'll get answers. Simply complete the information, and detail your 3PL challenges. Then, check off the third-party logistics companies that you want to review your request.

1. Choose an RFI topic.
2. Enter your contact information and challenge.
3. Select companies and optional categories.
4. Submit.


2

Your Information



Your Challenge, Problem or Request *

3

Select Transportation Companies

  • Select All

  • 3Gtms
  • BluJay Solutions
  • CSX Trans. Intermodal
  • Kuebix
  • Landstar
  • Legacy Supply Chain Svs.
  • One Network
  • Pitt Ohio
  • Purolator
  • Quintiq
  • SEKO Logistics
  • SMC3


Select Relevent Categories

  • Air Freight
  • Intermodal
  • Motor Freight
  • Ocean Freight
  • Rail Freight
  • TMS

Select Warehouse/DC Management Companies

  • Select All

  • 3PL Central
  • Apex Supply Chain Tech.
  • Honeywell Intelligrated
  • Kuebix
  • Legacy Supply Chain Svs.
  • Swisslog
  • Westfalia Technologies
  • Zebra Technologies


Select Relevent Categories

  • Auto ID & Data Capture
  • Automation
  • Conveyors & Sortation
  • Lift Trucks
  • Packaging & Labeling
  • Pallets & Containers
  • Shelving & Racking
  • WMS

Select Supply Chain Companies

  • Select All

  • 3Gtms
  • 3PL Central
  • Amber Road
  • Apex Supply Chain Tech.
  • APICS
  • BluJay Solutions
  • CSX Trans. Intermodal
  • Frontier Business
  • Kuebix
  • Landstar
  • Legacy Supply Chain Svs.
  • Logility
  • One Network
  • Purolator
  • Quintiq
  • SMC3
  • Synchrono
  • TAKE Supply Chain
  • Westfalia Technologies
  • Zebra Technologies


Select Relevent Categories

  • Global Trade
  • Inventory Management
  • Risk Management
  • Sustainability

Select Software/Technology Companies

  • Select All

  • 3GTMS
  • 3PL Central
  • Apex Supply Chain Tech.
  • BluJay Solutions
  • Honeywell Intelligrated
  • Frontier Business
  • Kuebix
  • Logility
  • One Network
  • Quintiq
  • SMC3
  • Swisslog Logistics
  • Synchrono
  • TAKE Supply Chain
  • Zebra Technologies


Select Relevent Categories

  • ERP
  • Sales & Operations
  • Sourcing/Procurement
  • Optimization
  • Transportation Mgmt
  • Warehouse Mgmt

Select Executive Education Choices

  • Select All

  • Graduate Courses
  • Online/Distance
  • Executive Education
  • Certifications
  • Undergraduate
  • Seminars
  • Associations
  • Conferences
  • Tradeshows


Select Third Party Logistics Companies

  • Select All

  • 3PL Central
  • Landstar
  • Legacy Supply Chain Svs.
  • Purolator
  • SEKO Logistics
  • Westfalia Technologies


4
 

24|7 Company Profiles