Fuel Prices

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The national average price per gallon headed up 10.1 cents, to $4.545 per gallon, marking the highest increase since a 13.9-cent increase, to $4.378, for the week of August 14.

June’s SCI reading, at 7.9, was down compared to May’s 8.6, with FTR observing that the reading was negatively impacted by gains in diesel prices.

A shift to goods consumption has wreaked havoc on supply chains and contributed to goods price inflation.

In this webinar, our team of experts share their insights on rate patterns in all the major transport modes and offer recommendations to help shippers prepare their freight transportation budget amidst all this uncertainty.

Over the last 20 years, the volume of oil consumed per unit of real GDP has contracted on a very consistent basis; consequently, the global economy could grow at more than 2% per year without oil demand rising. Meanwhile shale oil producers—the world’s swing producers—are increasing well productivity at double-digit rates.

Of more than 200 buyers of freight transportation and logistics services, 5.5% noted that average fuel surcharges were more than 20% above base rates.

Data from a San Diego-based parcel consultancy Shipware LLC showed this week that after raising its fuel surcharge index in February, it will raise it again, effective November 2.

An analysis of natural gas storage volumes strongly suggests that natural gas prices will rise significantly towards the end of the year; and as they rise, so too will the price for CNG and LNG.

Natural gas prices have risen 40 percent to over $6 per thousand cubic feet (Mcf) since the beginning of the year. As a regular reader of this column, rising prices should come as no surprise. In July of last year, when the price was just $3.52 per Mcf, I predicted that prices would rise to between $4.00 and $4.25 per Mcf by the end of the year.

A recent study issued by non asset-based third-party logistics (3PL) services provider Transplace sheds light on the myriad freight-related accessorial charges shippers shell out in order to move product from point A to point B.

The four United States-based Class I railroads received good news late last week, when the United States Court of Appeals for the District of Columbia Circuit dismissed a June 2012 decision by a U.S. District judge in the District of Columbia that maintained Burlington Northern Santa Fe, Union Pacific, Norfolk Southern, and CSX worked together—or colluded—on fuel surcharges assessed to shippers.