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May 12, 2012

FUEL PRICES * USA

* Diesel, Oil Prices Hit Lowest Point Since February

New York,NY,USA -The Journal of Commerce Online, by Mark Szakonyi -May 8, 2012: -- Diesel prices across the U.S. fell to their lowest point in 10 weeks, slipping 1.6 cents in the week ending May 7 as oil prices dropped to the lowest point since February... The average price of $4.057 is down 4.7 cents from the same period a year, after falling for the fourth straight week, according to the U.S. Energy Information Administration. Prices are up 2.7 cents, or 7.2 percent, from the beginning of the year... Prices fell in all regions, with the East Coast’s New England region and the West Coast excluding California seeing the sharpest decreases, both dropping 2.6 cents. The Midwest and the Gulf Coast saw prices remain below the $4 mark...

Labels: fuel prices

Mar 23, 2012

FUEL PRICES OPINION * UK

* Rising fuel prices put telematics in the driving seat. By deploying telematics technology, organisations of all sizes can reduce fuel use by up to 30%.

London,EN,UK -AutomotiveWorld (UK), by Andrew Yeoman -March 16, 2012: -- Recent hikes in the price of diesel have once again highlighted the ongoing battle between fleet operators, service managers and fuel costs. In the UK, the price of diesel is now running at twice the rate of inflation since reaching a record high of 143.05p (US$2.25) per litre last month, adding further pressure to already cash-strapped businesses in transportation and field services... Using telematics can help companies to optimise schedules and route planning, helping to reduce unnecessary mileage and improve fuel efficiency and driver behaviour... However, a key factor in controlling fuel costs through this technology lies with the employee in the driving seat... Despite the doom and gloom surrounding the direction fuel prices are heading, fleet and field services managers can take positive steps towards making a change today. The price of fuel will always have a significant impact on the bottom line of operators of large fleets, but technological solutions can substantially reduce this, and sow the seeds for real progress in the automotive industry...

Labels: fuel prices

May 6, 2011

Gas Price * USA - Understanding Volatility

Consumers frustrated at fast rise but slow descent of gas prices

New York,NY,USA -MSNBC/Red Tape- April 25, 2011: -- In perfect free market, prices should float up and down w/ equal speed. Basically, when prices go up, retailers have to act quickly or they lose money... 1997 study found prices fall about twice as slow as they rise... Basic economic theory doesn't explain sharp rise-slow fall price pattern. Some suggest greedy station owners take advantage of temporary high prices... Consumers call it price gouging; economists say "asymmetric price adjustment"... Ohio State University economist, Matt Lewis, doesn't discount allegations like price fixing, collusion. But he thinks consumers aren't as fussy when gas prices start to fall. Lewis said "Consumers shop around more intensely when prices are going up. When they are falling, they don't shop around as much" ... Leads to less competition; stations have no urgency in lowering prices...

Labels: fuel prices

Jan 18, 2011

FUEL PRICES * UK - FTA and RHA team up to tackle fuel price hikes

Two of the biggest forces in the road freight industry are combining to campaign for fairer fuel prices

London,EN,UK -Tranport Engineer, by John Challen -14 Jan 2011: ... The Freight Transport Association (FTA) and the Road Haulage Association (RHA) have joined forces with the FairFuel/UK Campaign, which aims to have April's planned fuel duty rise scrapped, and for the Government to intervene and stabilise fuel prices... Theo de Pencier, chief executive of the FTA, adds: "The situation regarding fuel is threatening the whole economy. We feel that the general business community and the motoring public now have common cause with our industry. This campaign is the opportunity to put maximum pressure on the government to win some form of concession to get the pressure off..." (Photo from d.yimg: Oil-petrol tank-truck)

* UK - The public join the fight for fair deal on fuel

London,EN,UK -Road Transport, by Laura Hailstone -18 January 2011: -- The government is under pressure to abolish the April fuel duty rise, along with future rises, as the general public join the fight for a fair deal on fuel... The FairFuelUK campaign petition, launched by Peter Carroll last week, has attracted over 8,300 signatures in just over eight days: 70% of signatories from the general public and 30% from the industry...

Labels: fuel prices

May 18, 2009

* Australia - Consumers 'to pay' for fuel subsidy cut

QNLD,Australia -ABC News -May 18, 2009: -- The Queensland Trucking Association warns the price of goods will rise by up to 3 per cent if the State Government scraps the eight cents per litre fuel subsidy... Premier Anna Bligh, says she is considering cutting the scheme, which costs $600 million a year, because the state Budget is under pressure... Association spokesman, Peter Garske, says the move would cost truck drivers up to $15,000, which they would be forced to pass on to consumers... (Picture from ABC, by Graeme Powell - Scrapping the scheme would cost truck drivers up to $15,000 - a figure they would pass on)

Labels: fuel prices

Apr 4, 2009

FUEL * USA - Big jump in U.S. diesel prices

Washington,DC,USA -eTrucker -2 April 2009: -- For the second straight week, the national average price of a gallon of diesel climbed sharply. For the week ended March 30, the price jumped 13.1 cents to $2.221... Over the past two weeks, prices have risen more than 20 cents a gallon. Two weeks ago, the price hovered just above $2 a gallon. The national average hit a record high of $4.764 last July... For the latest week, average prices increased in all regions tracked by the U.S. Department of Energy... New England remained the most expensive region at $2.424. The Rocky Mountain area has the cheapest price at $2.146...

Labels: fuel prices

Feb 14, 2009

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

Nov 11, 2008

FUEL PRICES * USA - National average price drops below the $3 mark for diesel

The average price for diesel dropped another 14.4 cents nationwide to average $2.944 per gallon this past week

Grain Valley,MO,USA -Land Line Magazine -10 Nov 2008: -- The national average is still 48.1 cents per gallon higher than the same time period in 2007... The average price dropped again in all regions of the country, according to the U.S. Energy Information Administration’s report on Monday, Nov. 10... The New England region reported the most expensive average diesel prices at $3.266, which was still lower than the previous week’s average of $3.420. The Gulf Coast region is reporting the lowest average price for diesel at $2.90 per gallon... Below are the regional prices reported by the Department of Energy:

* East Coast: $3.077
* New England: $3.266
* Central Atlantic: $3.214
* Lower Atlantic: $2.989
* Midwest: $2.910
* Gulf Coast: $2.900
* Rocky Mountain: $2.968
* West Coast: $2.915
* California: $2.913

Labels: fuel prices

Oct 22, 2008

FUEL PRICES * USA - Truckers love lower fuel prices, but will it last?

Henderson,KY,USA -Henderson Gleaner/Courier & Press, by LINDSEY ZILIAK -October 21, 2008: -- Carl Daniels of Arkansas has been working in the trucking business for more than 20 years and remembers when diesel fuel was 86 cents a gallon... Diesel may never cost 86 cents again, but in recent weeks the price has dropped across the country... Soumen De, associate professor of finance at the University of Evansville, said the price decrease for both diesel and gasoline may not last... He said driving in America is down by billions of miles this year, and demand has fallen in China and India as well... De also said no one will know until winter whether the prices will continue to drop. OPEC may cut production, he said, and if it does, prices could go up.
He said it takes one to two months for the consumer to see the effects of any changes that are made... Diesel prices, he said, follow similar trends as gasoline prices, so he is unsure whether the decreases will last there, either... (Photo by ERIN McCRACKEN / Courier & Press - Jeff Wilson of New Johnsonville, Tenn., fills the truck he drives for Peek Trucking with more than $300 of diesel fuel at the Pilot Truckstop at U.S. 41 and Interstate 64 on Monday. Wilson hauls aluminum coils for soda cans for Peek and says the higher gas prices are affecting the trucking industry. Wilson, who has driven a truck for more than 20 years, remembers when diesel fuel was less than $1 a gallon)

Labels: fuel prices

Sep 1, 2008

HIGH FUEL PRICES * USA - Industry bears brunt of diesel cost

Despite its recent price fall, the high cost of fuel is continuing to take its toll on a breadth of industries dependent on diesel

Spartanburg,SC,USA -The Spartanburg Herald Journal (subscription), by Trevor Anderson -August 31, 2008: -- The national average price per gallon of diesel was $4.28 last week. Diesel prices have dropped nearly 50 cents since July, but they remain about $1.40 higher than they were a year ago, according to the American Automobile Association... "We're absolutely thrilled to see diesel prices going down," said Tiffany Wlazlowski, director of public affairs for the American Trucking Association, a trade organization that represents the interest of the trucking industry. "The only problem is the price of diesel still goes down a lot slower than it goes up, and when you compare this year over last year, we're still taking it on the chin"... In Spartanburg, Union and Cherokee counties, the average price per gallon of diesel has hovered at $4, down from more than $5 during the first six months of the year, according to GasBuddy Organization Inc... But it's still putting a pinch on the finances of many businesses... (Photo by Tim Kimzey - Norman Walker refills his motor home at the Kangaroo on Highway 11 off I-26 in Spartanburg County recently. Walker says he's glad diesel prices have dropped, if only slightly)

Labels: fuel prices

Aug 21, 2008

FUEL PRICES * Dubai - Restrictions remain a worry for truckers

Abu Dhabi ,United Arab Emirates -The GulfNews (Dubai), by Himendra Mohan Kumar -August 20, 2008: -- Transportation businesses in Dubai heaved a sigh of relief when diesel prices were cut and some truckers even lowered their freight charges, but restrictions on truck movements on Dubai's roads remain a concern, transporters told Gulf News... They said lower diesel prices in Dubai have drastically cut the number of transportation companies lining up their trucks at the pumps run by Abu Dhabi's Adnoc Distribution for cheaper diesel...

Labels: fuel prices

Jul 15, 2008

FUEL PRICES * USA - Diesel Hits Another Record, Rising 3.7¢ to $4.764 a Gallon

Gas Dips 0.1¢ from Record, to $4.113

Washington,DC,USA -Transport Topics -14 July 2008: -- The national average pump price of diesel fuel rose 3.7 cents to a record $4.764 a gallon, the Department of Energy said Monday... Crude oil hit a record over $147 Friday before settling over $145 a barrel, near a record closing price on the New York Mercantile Exchange... Diesel’s pump price reached $5.026 in the California sub-region, which DOE breaks out separately from its five national regions, just 0.1 cent below the level reached on May 26... The highest regional average was the West Coast, which includes California, where diesel reached $4.909, while the lowest was the Midwest, at $4.698... (Photo by Tom Biery/Trans Pixs)

Labels: fuel prices

Jul 11, 2008

FUEL PRICES * Worldwide Study - Gas in U.S. a deal compared with Europe

Most expensive found in Norway at $9.85 a gallon; heavy taxes help to raise European costs

Los Angeles,Cal,USA -The Los Angeles Times, by Marla Dickerson/The Detroit News -July 11, 2008: -- ... That's the priciest petrol on a list of world gas prices released Wednesday by Associates for International Research Inc., a Massachusetts-based relocation consulting firm that tracks the cost of living in dozens of countries... In fact, at just more than four bucks a gallon on average, U.S. gas is still cheap compared with much of the world... And it's not just Europe. People all over the world are shelling out more for gas than Americans -- who are considerably wealthier. That includes drivers in the East African nation of Eritrea ($9.46 a gallon), Kenya ($5.94), Nicaragua ($5.07), India ($4.94), Chile ($4.85) and El Salvador ($4.70)... In a more extensive study completed by the firm in March, consumers in nearly three-quarters of approximately 150 nations surveyed paid more for fuel than Americans do... So why the big price differences around the world? Experts say retail gas prices are influenced by a variety of factors, including the cost of refining, distribution and marketing. But the biggest single variable is government policy: Some countries tax gasoline heavily; others subsidize it to make it cheap... Many countries chose the former. In the United States, state and local taxes account for about 19 percent of the average price of a gallon of gas, according to the Energy Information Administration. In England, where London drivers are paying nearly $9 a gallon, taxes account for a whopping 81.5 percent of the pump price... European countries have long relied on hefty fuel levies to fund road work and social programs, and to encourage conservation. The same is true for some Asian nations, including South Korea ($7.33 a gallon) and Japan ($6.30) -- both of which import 100 percent of their crude... The philosophy is different in oil-rich countries that subsidize fuel as a way to share the wealth and keep citizens happy. Drivers pay less than 50 cents a gallon when they fill up in Saudi Arabia and Iran. Gas is cheaper than milk in Venezuela, which spends an estimated $11 billion subsidizing gasoline... But whether it is individuals or governments picking up the tab, the fallout from exploding crude prices is being felt around the globe...

Labels: fuel prices

Jul 9, 2008

High Fuel Prices * USA - Are causing more tired truck and car drivers?

Vancouver,Wash,USA -KPIC (Roseburg,OR), by Bob Heye -July 9, 2008: -- Independent trucker Roy Benner says he's seeing more truck drivers take shortcuts on repairs and push physical limits in order to make up lost revenue due to the soaring cost of diesel fuel... Troopers and truckers say high fuel prices are at least partially to blame for an increase in tired drivers, both in cars and trucks... Benner said many independent truck drivers are being forced to choose between making repairs to their truck or making a run in hopes of a paycheck... Many often still drive while their trucks may have potentially hazardous problems... Washington State Patrol Sgt. Thomas Butsch said, many car drivers and truckers push themselves the last few miles to get home or to a truck stop. "It's just not worth it," Butsch said, adding that driving while tired is an impairment similar to driving while intoxicated... Nationwide, there are over 1,500 fatalities on average per year tied to drivers falling asleep behind the wheel. Almost 8 million people per month said they drive while tired according to a recent national survey... And statistics show that many people asleep at the wheel are not on grinding road trips - 47 percent nodded off on trips of under an hour in length... Troopers say the best way to drive alert is not to drink coffee, stimulating energy drinks or cold temperatures... They say drivers of all vehicles just need to get a lot more sleep... (See Video)

Labels: fuel prices

Jul 8, 2008

FUEL PRICES * USA - Diesel Jumps 8.2¢ to Record $4.727 a Gallon

Gas Hits Record; Diesel Again Tops $5 in California

Washington,DC,USA -Transport Topics -8 July 2008: -- The national average price of retail diesel fuel jumped 8.2 cents to a record $4.727 a gallon, breaking the previous record of $4.723 set six weeks ago, the Department of Energy said Monday... The boost put the price $1.878 over the same week last year, DOE said following its weekly survey of filling stations... (TT File Photo)

Labels: fuel prices

May 21, 2008

FUEL PRICES TROUBLES * WORLDWIDE

* Oil Prices Hit New High, House Passes Anti-OPEC Legislation

Washington,DC,USA -TruckingInfo -21 May 2008: -- Oil prices closed over $129 for the first time Tuesday, as the U.S. House of Representatives passed legislation that would seek to subject OPEC oil producers to U.S. antitrust laws and investigate energy market manipulation... Oil futures are now selling for about twice what they were just a year ago, and one analyst at the Oil Price Information Service called it "a runaway market," reported the Associated Press... Meanwhile, Reuters reports, the U.S. House of Representatives overwhelmingly approved legislation Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices... The bill would subject OPEC oil producers to the same antitrust laws that U.S. companies must follow. The legislation also creates a Justice Department task force to investigate fuel price gouging and energy market manipulation... The White House has threatened to veto the bill, but the bill passed by a large enough margin to override...

* New Zealand - Trucking feels squeeze of diesel costs

The Road Transport Forum is concerned the rising cost of fuel may force some local trucking companies out of business

Auckland,New Zealand -TVNZ -May 20, 2008: -- ... The price of diesel is up more than 60% since the start of last year to almost $1.68 on Tuesday... Mike Dennehy from the Road Transport Forum says the way things are, many operators would be better off with their money in the bank... He is advising those in trouble to pass the cost on to their clients... Dennehy says in the past few months they have had several calls from transport operators who say if prices keep rising, they doubt they will be able to stay afloat... (Picture: from BigLorryBlog (UK): New International tractor and tanker trailer - "Hookers Caltex contract. 45,000litre HEIL Tanker with all the latest technology and safety equipment."...)

* UK - Diesel fuel hits £1.05/litre, crude oil hits $130

London,UK -Road Transport/Motor Transport, by Justin Stanton -21 May 2008: -- Data supplied by John Hall Associates (JHA) to the FTA shows a litre of bulk diesel selling for 105.72p. On 16 May 2007, a litre of bulk diesel cost ‘just’ 76.01p – thus it has risen 29.71p/litre in a year, or a whopping 39%... The JHA data incorporates a fortnight’s time lag, so this price does not reflect the current crude oil high of $129.45/barrel. This record has been driven by the weak dollar and continuing concerns about supply. Speculation that China will need to import more fuel in the aftermath of the earthquake is also having an impact, according to experts... Prices are expected to continue to rise... Analysis generated via the Motor Transport/RT.com Cost Tables reveals that a 1p/litre rise in the price of fuel equates to an extra cost £631 for a 44-tonner doing 100,000 miles a year; thus since 16 May 2007, that 44 tonner now costs an extra £18,747 a year to run... For that same 44-tonner, fuel now represents 40% of its total operating cost...

Labels: fuel prices

Sep 30, 2007

Fuel Pricing * USA - Michigan bill target predatory one

MI,USA -Land Line Magazine, by Keith Goble -September 28, 2007: -- A bill that could draw consideration would make it illegal for fuel stations to limit the amount of fuel sold to customers... Rep. Jeff Mayes, D-Bay City, said the bill is intended to prohibit fuel stations from discriminating against consumers and protect against predatory pricing... The protections in the bill wouldn’t apply during emergencies declared by the governor... (Images from: michigan.gov)

Labels: fuel prices

Aug 26, 2007

The Great American Truck Show * USA - Exhorbitant US diesel prices

Dallas,TX,USA -Biglorryblog (UK) -24 Aug 2007: -- ... a cartoon which - given that diesel in the US costs an eye-watering $1.50 a gallon !!! ... $1.50 a gallon..? Why that's almost £0.75p!!!!! Even given the fact that a US gallon is smaller than a Imperial gallon--four litres as opposed to 4.5 litres---how on earth can those poor US truckers keep going...? (Answers please on a postcard)..

Labels: fuel prices

Jun 12, 2007

High Fuel Prices *- USA - Addressed In Congress

The Owner-Operator Independent Drivers Association (OOIDA) gave testimony at a hearing called by the U.S. House of Representatives Sub-Committee on Oversight and Reform where the issue of "hot fuel" was discussed

Washington,DC,USA -Layover (Akron,PA) -11 June 2007: -- Consumers make calls to Congress everyday saying they expect action to be taken regarding the cost of fuel. But today, only one organization stood up among industry leaders on behalf of consumers, pointing out a double standard in which fuel is sold.... OOIDA Project Leader John Siebert cited an estimated $2.5 billion annual cost to consumers due to "hot fuel"... The phrase "hot fuel" refers to expanded diesel fuel or gasoline that is sold at retail pumps at temperatures higher than the century-old government standard of 60 degrees. The warmer the fuel, the less measurable energy (Btu) and fewer miles to the gallons a vehicle will receive. For example, if a tractor-trailer averages six miles per gallon, 200 gallons of 98-degree fuel is going to take that truck 36 fewer miles than 60-degree fuel...

Labels: fuel prices