Logistics

The national average price of retail diesel fell 11.5 cents to $4.603 a gallon, the Department of Energy reported Monday.

Gasoline prices dropped 11.7 cents in the two weeks ended Friday to a national average of $3.9959 a gallon, the first time in more than a month that the average has fallen below $4 a gallon, the latest Lundberg Survey of filling stations said.

The Environmental Protection Agency postponed until early August its decision on whether to grant a request from Texas to cut the national renewable fuels mandate in half, citing the huge number of comments EPA has received on the issue, which has pitted livestock growers against grain producers.

Existing homes sales fell in June to the lowest level in a decade, the National Association of Realtors said Thursday.

Third-party logistics company and freight broker Hub Group’s second-quarter net income rose to $15 million, or 40 cents a share, from $13.8 million, or 35 cents, a year ago.

Union Pacific Corp. said Thursday its second-quarter profit rose 19%, on higher demand for agricultural transportation.

Eastern freight railroad Norfolk Southern Corp. said its second-quarter profit rose 15%, as higher revenue per shipment offset an overall drop in traffic and record fuel prices.

Transportation and third-party logistics firm C.H. Robinson Worldwide said its second-quarter profit rose to $90.4 million, or 52 cents a share, from $82.3 million, or 47 cents, a year ago.

Sterling Trucks plans to eliminate one of two shifts and lay off 720 workers in Ontario in November, the Canadian Press reported Thursday.