Transportation – Trucking & Livery- Trucking Plummets! Diesel Falls 3.1 Cents!

Saberlines Insurance Services

China And Coronavirus Hurts Trucking, Decreases Cost Of Diesel In US

The average U.S. diesel retail price fell 3.1 cents per gallon, Energy Department reported on March 2.

Oil prices began to rise after central bankers around the world gave reassurances that they would undertake intervention measures as coronavirus disrupts economic activity, Bloomberg News reported.

Trucking’s primary fuel costs 22.5 cents less than it did previously, when it was $3.076 a gallon, according to DOE.

In California, all regional prices at the pump fell the most, 5 cents per gallon.

According to DOE’s Energy Information Administration, the average US price of a gallon of gasoline dropped 4.3 cents to $2.423 per gallon. Compared with a year earlier it was 0.1 cent higher.

In all regions average gasoline prices dropped.

West Texas Intermediate crude futures closed on the New York Mercantile Exchange on March 2 at $47.13, compared to $51.43 per barrel on Feb. 24.

At the same time, there is still concern about the virus ‘ effect on global business conditions.

Bloomberg stated that the Organization for Economic Co-operation and Development cautioned that economic growth will fall to lows not seen since more than a decade as the coronavirus that surfaced late last year in China takes a toll on manufacturing, consumer spending and transportation.

Live Updates about Coronavirus Click Here

Get a quote for a trucking insurance by calling us today,


Check out some information about the trucking business and the coverage needed by checking out our quick reference guide, click here.

Request a quote online, 15 min max of your time, will get you 15 rates and packages built and customized to best suit your business.

Have a load? Insured with us? We fulfill Cert Requests quickly and easily through this link.

Insure My Truck Dot US

Insurance Loss Runs & How to calculate Loss Ratio.

Leave a Comment