Oil Prices Push Diesel Higher
The cost of crude oil continued its climb this week, pushing the national average price of diesel fuel up 1.1 cents to $1.209 a gallon, the highest price since April 21, 1997.
The rising diesel prices have triggered surcharges from the major segments of trucking, starting with a number of less-than-truckload carriers in mid-July, when the $1.10 per gallon threshold already included in their published tariffs was breached. Truckload carriers, using an implementation threshold of $1.12, followed suit a week later (7-26, p. 1).
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The Department of Energy reported a higher diesel cost on Sept. 13, and the following day, the price of crude oil on the New York Mercantile Exchange closed at $24.12 a barrel, the highest level in 30 months.
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The surge in fuel costs has pushed the surcharges up rapidly.
