Diesel prices level off after steady declines

Trucking news and briefs for Tuesday, July 11, 2023:

Diesel prices plateau after months of declines

After falling throughout the first half of 2023, diesel prices have reached somewhat of a plateau in recent weeks.

Since the beginning of June, diesel prices were as high as $3.82 a gallon and as low as $3.77 a gallon.

The Energy Information Administration reported this week that the national average for a gallon of on-highway diesel is $3.81 -- 0.9 cents higher than the first week of June. While fuel prices jumped 3.9 cents during the week ending July 10, broker-posted spot rates for dry van and reefer declined, which was expected due to the Independence Day holiday.

During the week ending July 10, diesel prices fell in just two regions -- New England and Rocky Mountain -- and increased across the rest of the U.S. The most significant increase was seen in the Lower Atlantic region, which saw a 6.8-cent jump.

The nation’s most expensive fuel can be found in California at $4.82 per gallon, followed by the West Coast less California region at $4.15 per gallon.

The cheapest diesel is in the Gulf Coast region at $3.51 per gallon, followed by the Midwest region at $3.74 per gallon.

Prices in other regions, according to EIA, are:

New England -- $4.07
Central Atlantic -- $4.08
Lower Atlantic -- $3.75
Rocky Mountain -- $3.94

ProMiles’ diesel averages during this most recent week reflected declines in the EIA numbers -- with prices falling by 1.5 cents to $3.84 per gallon.

According to the ProMiles Fuel Surcharge Index, the most expensive diesel can be found in California at $4.97 per gallon, and the cheapest can be found in the Gulf Coast region at $3.47.

While spot rates saw their typical July 4 holiday decline, it wasn’t as pronounced as a typical Independence Day week, according to FTR Transportation Intelligence and Truckstop's weekly report. The total broker-posted rate declined nearly 2 cents, which is a strong showing for the July 4 holiday week.

The relative resilience stems from smaller than typical declines in van rates and a rare increase in flatbed rates. The total market rate was about 20% below the same 2022 week and about 5% below the five-year average. The year-over-year comparison was the least negative since March.

OOIDA Foundation hosting annual Truck to Success course

The Owner-Operator Independent Drivers Association is looking to help truck drivers navigate through the change from being a company driver to an owner-operator with an in-person course later this year. It’s also available online throughout the year.

The OOIDA Foundation, which is the educational and research affiliate of OOIDA, offers the Truck to Success course, with the option of participating either in person or online. The annual, in-person option is a three-day course designed for drivers looking to become a leased-on owner-operator or an owner-operator under their own authority.

In addition to the annual event, the OOIDA Foundation has made the same valuable information available to truckers anytime of the year and from anywhere. Ninety-day access to an online video version of the class can be purchased for $250.

Those that participate in either version will hear from trucking experts dedicated to helping drivers become successful business owners. The training is designed to follow a logical path along the transition from a company driver to an independent contractor.

This year’s in-person course is scheduled for Oct. 17-19 in Blue Springs, Missouri. For those who cannot attend in-person, virtual attendance also will be available. The price of admission varies, depending on a driver’s method of attendance. Sign up before Sept. 1 to receive a free year of membership. Registration for the course is available here.

Registration for both classes is open to anyone, you do not have to be a member of OOIDA to participate in the classes.

Trucking Cares Foundation donates to fentanyl awareness org

The Trucking Cares Foundation, the American Trucking Associations' charitable arm, recently donated $25,000 to Voices for Awareness, a national organization aimed at raising awareness of the dangers of illicit fentanyl in the U.S.

“TCF is pleased to announce that we have made a significant contribution to Voices for Awareness. The ATA family and trucking at large is determined to deliver positive awareness to the growing Fentanyl crisis in America,” said TCF Chairman Phil Byrd, president and CEO of Bulldog Hiway Express. “Our citizens, employees and families are being devastated by this evil drug and I’m proud that TCF has decided to get involved in this critical need.”

Founded in 2018, the Voices for Awareness Foundation’s mission is to raise awareness that fentanyl is highly addictive and can cause sudden death.

“The number of deaths in the United States due to fentanyl poisoning is staggering," said Andrea Thomas, founder of Voices for Awareness. "Illicit fentanyl is found in pills and powders and has made its way into every street drug. Teen deaths have dramatically increased due to fentanyl poisoning. Tragically, nationwide drug-related deaths reached a new record in 2022 with 109,680 people perishing as the fentanyl crisis continues to deepen."

The Trucking Cares Foundation focuses on several core areas, including humanitarian and disaster relief; eradicating human trafficking; leadership development; strengthening the industry’s relationships with law enforcement, the military and veterans’ organizations; safety and research opportunities.

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