DieselDriver
Seasoned Expediter
When is enough,enough...how high is the price of diesel going to get to before you have to park your truck?
When is enough,enough...how high is the price of diesel going to get to before you have to park your truck?
Chef...I can't remember diesel ever being $1.50 in 2008 maybe $2.50...maybe I missed the good-O-days...I do lose track of things from time to time but I think I'd remember that price.
Thanks
Diesel Fuel Prices
(A) Introduction
Diesel serves as the primary commercial fuel in the US with over 70% of the nation’s goods being transported in diesel-powered vehicles. It is one among several important fuels such as gasoline and heating oil that are obtained from crude oil. It is also one of the most volatile commodities in the global market in terms of price fluctuations.
Retail prices of diesel largely mirror the prices of crude oil in the market, which in turn is sensitive to demand and supply and economic conditions. The most recent example of volatility in prices of diesel fuel was seen in the year 2008, which saw a dramatic change in fuel prices due to the onset of the global economic crisis and declining consumption of fuel in the latter half of the year. The monthly average price of crude oil fell from $133 per barrel in July to $41 per barrel in December. Monthly average prices of diesel fuel followed suit by peaking in July at $4.764 per gallon and plunging to $1.427 per gallon in November and rising modestly to $2.45 per gallon in December.