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FUEL COSTS * USA - Oil Soars Past $122; Regulators Considering More Oversight
With oil soaring to new records — crude surged past $122 a barrel on Tuesday for the first time — federal regulators are considering stricter regulation of the oil industry
New York,NY,USA -The Wall Street Journal/ Transport Topics -5 May 2008: -- ... The Federal Trade Commission last week said it would examine such things as withholding supplies from the market as it prepares to write rules aimed at banning manipulation, the paper said... Crude oil topped $120 a barrel on the New York Mercantile for the first time Monday and pushed past $122 in intraday Nymex trading on Tuesday, the Associated Press reported... Acting under authority granted in a 2007 energy law, the FTC may extend its reach to oil-trading markets, competing with the Commodity Futures Trading Commission, the traditional overseer of energy markets, the Journal reported...
* DOE Boosts Diesel-Price Forecast - Trucking’s Primary Fuel to Average Close to $4 This Year
Washington,DC,USA -Transport Topics -6 May 2008: -- Diesel fuel will average $3.94 per gallon at the pump this year — more than a dollar over last year’s average and higher than the $3.62 forecast issued last month, the Department of Energy said... The projected increase “reflects global strength in diesel demand that is contributing to a widening of the margin between diesel prices and crude oil costs since last year,” DOE said in its monthly short-term energy forecast released Tuesday... Retail diesel prices will fall next year and average a projected $3.67 per gallon, DOE said. Diesel averaged $2.88 per gallon last year... (Photo by Bruce Harmon/Trans Pixs)* DeFazio Says Congress Should Help Truckers Hit by Fuel Costs - Key Congressman Calls for More Broker Disclosure
Washington,DC,USA -Bloomberg/Transport Topics -6 May 2008: -- A key Congressman said lawmakers should help the trucking industry cope with diesel prices that have risen 45% in the past year,reported... Rep. Peter DeFazio (D-Ore.), who chairs the House Transportation and Infrastructure Committee’s highways and transit subcommittee, proposed at a Tuesday hearing to require freight brokers to disclose their profits and pass on fuel surcharges they assess to customers, Bloomberg said... DeFazio said a “huge number” of smaller and independent trucking companies have been pushed out of the business by soaring diesel prices, Bloomberg reported... But the cause of high diesel prices is the steep rise in crude-oil prices and is not something Congress can control, Deutsche Bank analyst Ryan Todd told the subcommittee...
Labels: fuel cost troubles
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