US diesel price slide for 9-week straight

Diesel , Energy , USA Jan 08, 2015 No Comments

US diesel priceDiesel for February delivery fell 4.7% last week to end at $1.7957 a gallon Friday, the lowest closing price since Oct. 7, 2009. Prices have retreated 29% over the past nine weeks, the longest streak of down weeks ever, according to data going back to 1979.

Nationwide, the average residential heating-oil price fell 3.6 cents to $3.043 a gallon in the week ended Dec. 29, the lowest price since November 2010, according to the U.S. Energy Information Administration. The EIA expects households to spend an average of $1,722 on heating oil this winter, down 27% from last winter.

Companies that use diesel as a transportation fuel are also seeing lower costs. Melton Truck Lines in Tulsa, Okla., spends more than $150,000 a day on diesel fuel, down from about $200,000 a day in October, said Robert Ragan, Melton’s chief financial officer.

Via U.S. Diesel Prices Fall for Ninth Straight Week – WSJ

Pascal Blanc

Pascal has implemented numerous software solutions in the areas of procurement, sourcing, spend management, supplier evaluation and performance. His clients include Fortune 500 companies in Europe, Asia and North America. He is a co-founder of Source & Procure.

Leave a Reply

Your email address will not be published. Required fields are marked *