Crude Oil

Shippers coping with record-high fuel surcharges are advised by diesel supply experts to simply bear with it until more (and cheaper) crude oil is available, perhaps later this year but probably not until 2023.

With a 3.8-cent decline, this week’s national average is $2.399, following a 4.3-cent decline the week of April 27 and a 4.1-cent decline the week of April 20, and declines of 4.1 cents, 3.8-cent, 7.3-cents, and 8.1-cents, respectively, over the four-week stretch prior to that.

With an eye on making transportation of crude oil by rail (CBR) and ethanol safer following various tragic accidents over the last year, the United States Department of Transportation yesterday released details regarding its rulemaking proposal designed to improve how large quantities of flammable materials by rail can be moved in a safer manner.

With a sharp eye on safety in the wake of tragic accidents from crude by rail (CBR) operations, major U.S.-based Class I railroads and United States Transportation Secretary Anthony Foxx recently rolled out what they described as a rail operations safety initiative comprised of new voluntary operating standards for moving crude by rail.

Following the tragic event on July 6 in Lac-Megantic, Quebec, when a Montreal, Maine & Atlantic Railway train carrying crude oil derailed, resulting in a massive explosion and 47 casualties, Transport Canada, the Canadian equivalent of the United States Department of Transportation, issued an emergency directive designed to increase rail safety.

Diesel prices are continuing to fluctuate to a wide degree, according to data released yesterday by the Department of Energy’s Energy Information Administration (EIA).