OIL PRICES * USA - ATA, Trade Groups Seek Review of Commodity Speculation

The coalition of 80 trade associations sent a letter to Congressional leaders asking that lawmakers "act decisively to bring full transparency to all trading environments and platforms"

Arlington,VA,USA -Transport Topics -8 June 2009: -- American Trucking Associations said it has joined other trade associations in asking Congress to help prevent excessive speculation in commodities markets... ATA said in its Truckline newsletter to members that it is concerned about the recent surges in energy commodity prices. The surges have come despite a significant decline in demand for petroleum products... The letter focuses upon transparency in markets, including asking Congress to require reporting of over-the-counter trades, closing market loopholes and reviewing emerging environmental markets... (Photo from michaelmeacher.info: oil production)


* Diesel Jumps 14.6¢ to $2.498 in Fifth Straight Gain. Gas Gains a Dime to $2.624

Washington,DC,USA -Transport Topics -8 June 2009: -- The national average price of diesel fuel jumped 14.6 cents to $2.498 a gallon, its fifth straight gain and the biggest single-week jump in more than a year, the Department of Energy said Monday... The increase left trucking’s main fuel $2.194 below the same week last year when it was rising toward its all-time record of $4.764, set last July 14... Gasoline, meanwhile, gained a dime to $2.624, its ninth straight gain in which it has risen 58.7 cents, according to DOE figures... Monday’s price is $1.415 below that of a year ago, when gas topped $4 for the first time. Gasoline set a record of $4.114 last July 7... Diesel has risen 31.8 cents in the past five weeks and Monday’s increase was the biggest since May 26, 2008, when it leaped 22.6 cents... It had gained 13.1 cents on March 30, then receded for about a month before resuming its recent climb in tandem with rising oil prices...