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FUEL PRICES * USA & CAN - First time in two years gas is hot, diesel's not
Toronto,ONT,CAN -Reuters/Today's Trucking -12 Feb 2009: -- Not that there's many upsides to an economic downturn, but it seems the North American trucking slump is directly resulting in falling diesel prices -- so much so, that diesel costs at the pump are expected to fall below gasoline for the first time since 2007... According to this Reuters article, the price gap between unleaded gas and diesel could close by this summer due to continually weak manufacturing and related transport service demand around the world... Diesel costs, closely related to heating oil, have been propped up in Canada and the northeast U.S. up because of a traditionally chilly winter season, but that's expected to change as summer approaches and gasoline use rises... The worsening global economy and a weak oil consumption outlook are keeping the world oil market well supplied, EIA says, as world oil consumption is projected to fall by 1.2 million barrels per day this year... (Flip Side: Sure freight volumes stink, but at least those empty miles don't cost as much)Labels: fuel prices
posted by Unknown @ 11:33 AM
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