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Diesel Prices Jump 7% in One Week, Closing in on Record High
17 August 2005
| Diesel prices near all-time high. Click to enlarge. |
Average retail diesel prices nationwide climbed to $2.567 a gallon—a 7% increase of $0.16—during the last seven-day period, according to the EIA’s weekly gasoline and diesel update.
That’s also a $0.742 more than the price one year ago—a 41% increase.
Fuel prices vary regionally. California broke the $3.00 per gallon barrier during the reporting period, with prices reaching $3.042 per gallon.
The average price of regular gasoline in the US during the reporting period climbed to $2.55, an increase of 36% from the same time last year. California again led the nation in pricing, with a average $2.716 at the pump.
The ongoing increase in diesel prices is putting truckers in a bind. Surcharges imposed by shippers recoup some of the unexpected cost, but not all.
August 17, 2005 in Diesel | Permalink | Comments (9) | TrackBack (0)
Comments
Posted by: azure | August 17, 2005 at 08:58 AM
That is the first bit of comment spam I've ever seen that was sufficiently appropriate that I would consider not removing it.
Posted by: Engineer-Poet | August 17, 2005 at 02:48 PM
Are you paying more for fuel now than you are saving from Bush's tax cuts? I ain't!
Posted by: tom | August 17, 2005 at 05:44 PM
Sorry, I got it backwords in the previous post. The tax cuts were a pittance for me while the nominal price of gas is nearly triple the Jan 99 price.
Posted by: tom | August 17, 2005 at 05:48 PM
Thanks Engineer-Poet,
Sorry if you consider my comments SPAM, but I don't.
We are not done yet. The price of diesel is going up. The technology exists to keep fleet managers happy. They are biting. Azure Dynamics has USPS, Pepsico, US Military, Chalmer-Sunbelt as recent US clients.
The price of diesel in the UK is about CND$8.80/CND gallon. AZD's technology is cheap for Europeans. If you factor in the cost of the war then the cost of AZD's technology is cheap for the YANK too. NO?
Posted by: azure | August 17, 2005 at 06:21 PM
Diesel prices will go down when supply increases and demand decreases. It's the law.
Posted by: Lamar Johnson | August 18, 2005 at 05:27 PM
Thanks Lamar,
We all know the law. It looks a lot like Econ 101. The reality is that in the long run diesel prices are going up. Just how long is that long run.
The tar sands in Alberta should produce crude oil at the current rate for 400 years. Alberta is looking to triple its production. That will reduce the life of the tar sands to 130 years.
At what price does Shale oil become profitable? The US is thought to have 100+ years of shale oil.
Maybe Canada gets pissed at the US for illegally holding back $5 billion on soft wood lumber and decides its time to deversify and send oil to China and not the US. That would be my recommendation.
Friends don't F... Friends.
Cheney is going to Ft. Mac. Alberta soon and I hope Canada makes the message clear. I believe Trans Canada pipeline has postponed its pipeline build out to the US in favor of another company's build out to the B.C. Coast for China.
Time will tell.
Posted by: azure | August 18, 2005 at 07:36 PM
Crude to China.
http://www2.ccnmatthews.com/scripts/dnrp/release.asp?d=/cnrpxml/2005/4/14/266450_1_04142005120335PM.xml&t=enb
"Enbridge and PetroChina Sign Gateway Pipeline Cooperation Agreement
APRIL 14, 2005 - 12:00:13 ET
CALGARY, ALBERTA--(CCNMatthews - April 14, 2005) - Enbridge Inc. (TSX:
ENB) (NYSE:ENB) today announced that it has entered into a memorandum of
understanding with PetroChina International Company Limited to cooperate
on the development of the Gateway Pipeline and supply of crude oil from
Canada to China. The Gateway Pipeline is a proposed project to transport
400,000 barrels per day of Alberta oil sands production from Edmonton,
Alberta to a port on the west coast of British Columbia where it would
be shipped by tanker to China, other Asia-Pacific markets, and California..."
Posted by: azure | August 18, 2005 at 08:00 PM
Interesting that gas and diesel prices run from 12 to 20 cents a liter higher from south Calgary to North Calgary, guess where the Trans Canada runs???
This is not supply and demand, this is rip-off!!
Check Murphy Oil in south to any station in North.
Posted by: Stan Woodcock | November 08, 2005 at 04:16 PM
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Azure Dynamics series and parallel hybrid systems reduce fuel expenses by 35-50% and reduce maintenance expenses by another 40%. The internal rate of return at the current diesel price is between 20-32%. The technology pays for itself in 2-4 years.
The technology will be made available in kit form to the OEM's in the near future for trucks ranging from class 3 to class 8.