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FUEL COST * USA - Trucking association cries foul on diesel price jumps
Fort Smith,AR,USA -The City Wire -23 June 2009: -- The American Trucking Association announced today that it has asked Congress to investigate the recent rise in diesel prices and to “increase the transparency of futures markets.”... The Fort Smith region is home to several trucking companies, including Fort Smith-based ABF Freight System and Van Buren-based USA Truck... The ATA said the market forces don’t justify the average 56 cent rise in the price of diesel fuel since February. It reports that U.S. oil inventories are near a 19-year high and oil demand is down 6% from this time last year... Speculation is a necessary and valuable tool and is often used by trucking companies to hedge their fuel purchases, but excessive speculation is harmful to the economy, according to the ATA... (Picture from media.canada.com: sun0805n-gas)
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