Diesel Declines Again; Off 10¢ Since November
Last week saw the third consecutive fall in the average price of diesel, leaving fuel 10 cents cheaper than it was at the end of November. But that may not translate into much relief for trucking companies that turn fuel savings back to shippers in the form of lower surcharges.
The high was posted at $1.67 on Oct. 16. Since then, a growing supply of crude oil has eased price pressures somewhat, although late last week traders were expecting the Organization for Petroleum Exporting Countries to decide to cut production at its next meeting, in January. OPEC raised crude production four times in 2000.
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In the Dec. 18 federal report, the average price of diesel was down 3.2 cents from the the previous Monday, to $1.545 per gallon. It was $1.645 on Nov. 27.
But pump charges are still more than 25 cents higher than they were last year at this time, when the average stood at $1.287.
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