Diesel fuel rose for the third week in a row, rising 8.8 cents to $3.783, while gas prices also rose for a third week, the Department of Energy said Monday.
Deaths Involving motor vehicle crashes have risen as of this year. It is up 13.5% from last year at this time.
Diesel fuel prices are climbing again, for the second week in a row, rising 1.2 cents to $3.695 a gallon for diesel fuel while gas prices also rose for a second week, the Department of Energy said Monday.
WTI crude oil averaged $82.41 per barrel in June and was as high as $87.22 last week before falling to $83.91 today. June average monthly retail gasoline and diesel fuel prices were $3.539 and $3.759 per gallon, respectively.
Diesel fuel will average $3.79 a gallon this year, the Department of Energy said, lowering its most recent forecast by 11 cents.
- Make everyone’s aware of what the goals are to you fuel program. Communicate often and report results always.
- Of current process, procedures and best in class fuel buying
- All transactions and create a benchmark of current fuel margins
- Create the best means for your vehicles to be fueled. Negotiate deals, discounts and rebates off of an industry benchmark like Oil Price Information Service, OPIS
- Choose the right card, set up proper parameters on fueling, audit all transaction to ensure pricing deals are being adhered too. Seek fueling credits if not.
In an article recently in Inbound Logistics, CFO’s are still very concerned about diesel fuel prices and where they will go. I suspect given the recent ups and downs the market has had over the past couple of years, along with continued uncertainly there are challenges to be met. Depending on your type of company; trucking, food & beverage, private fleet or service fuel can represent more than 25% of fleet costs.
I spent an hour on the phone last week with one of the industry’s top futures specialist from a leading firm. Since we have clients that do work with them and I have known her for 15 years we talked about the oil market at length. Her view based upon their charts and continued Eurozone economic issues is that the market had support to go below $74.95 in the next coming weeks.