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