The U.S. average retail price of diesel dropped by 1 cent to $3.034 a gallon, the Department of Energy reported July 29.

Covenant Transportation Group Inc. reported earnings of 33 cents per share on $6.1 million in net income in the quarter ending June 30, the company said in a July 24 news release.

Forward Air Corp.’s net income dropped 8.2% from the same quarter last year, the Greeneville, Tenn.-based company reported July 26. But at the same time, the company set a second-quarter record for revenue.

Universal Logistics Holdings Inc. reported net income of $20 million for its quarter ending June 29, a 12.9% increase over the same quarter last year.

Canadian carrier Mullen Group Ltd. increased revenue by C$23.3 million, or 7.9%, to $319 million in the second quarter ended June 30, according to a company news release.

Landstar System Inc. reported record second-quarter earnings per share of $1.53 on second-quarter net income of $61.1 million, which compares with $1.51 per share on net income of $62.5 million during the same period a year ago.

Echo Global Logistics reported decreased revenue and net income as the softer freight market and weaker spot prices took a toll on earnings.

With a freight recession underway, industry experts said creditors are applying tighter standards to many trucking firms, or any firm with a troubled history.

The U.S. average retail price of diesel dropped by 0.7 cent to $3.044 a gallon, the Department of Energy reported July 22. Meanwhile, crude oil rose to slightly more than $56 a barrel during trading of West Texas Intermediate.