Diesel fuel prices

November 25, 2008 by Splatty  
Filed under Misc Logistics

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I was just browsing some of the excellent resource offerings we have here on 3PLwire.com (ahem) and decided to take a look at the most recent diesel fuel prices from the Official Energy Statistics from the US government. It’s no secret that the cost of fuel has plunged over the last couple of months after reaching all time records this past July.

One of the bright spots, at least from a freight forwarding perspective, has been the continued decline in the fuel surcharge for international air freight shipments. It seems like every other week I have seen announcements that airlines are decreasing their fuel surcharges. The most recent announcement I have seen is that the fuel surcharge to most destinations will decrease to $.90 per kg for shipments departing the US.

On the domestic fuel surcharge front, prices are continuing to fall as well. The most recent weekly average according to the government website shows the average cost of diesel fuel is $2.664 per gallon. This represents a decrease of $0.78 per gallon as compared to one year ago and nearly $0.16 from just a week ago. California has had the largest decrease down $1.015 from a year ago.

Obviously the state of the global economy has had a major impact on global oil demand and has subsequently been a major factor in decreasing the cost of fuel globally. After a year of increasing fuel and the associated fuel surcharges, it has been nice to see these prices return back to earth.

For additional information on the diesel fuel index, check out the EIA’s website. They also have a fuel graph which shows the costs over the past year. It’s actually quite amazing to see what has happened over the last two months.

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