Fuel prices and developments affect the entire supply chain, and can place a lot of pressure on carriers. Check back here for news and information related to fuel prices and the gas sector, plus insights and analysis on trends and issues impacting the industry.
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This may not matter, but on an inflation-adjusted basis, the current price is still well below the “highest price since” of May 2014.
The cost of ship fuel looks like it’s about to topple records set in 2012 and 2008.
AskWaves dives into the potential benefits and drawbacks of using blue hydrogen on the path to green hydrogen.
Also on the podcast: Some numbers that point to why the diesel market is climbing.
Diesel is rising faster than the price of crude.
The complex nature of markets is evidenced by the fact that the price of natural gas and hydrogen is having an impact on diesel supplies.
The infrastructure, cost and emissions benefits of renewable natural gas make it a promising alternative fuel to decarbonize trucking, experts said.
Host John Kingston also looks at renewable diesel, which might not be as plentiful as envisioned.
There may be more to come: The key commodity benchmark for diesel is at levels not seen since 2014.
Also covered on the podcast is the spillover from the natural gas price surge.
The gain is 4.4 cents a gallon, while the price on the key commodity exchange is even higher.
Host John Kingston dives into the surging price of oil and diesel.
Consumers of diesel saw their prices rise by about 17% in 2021.
OPEC sees a first-quarter supply/demand surplus that is now likely to be smaller than earlier forecast.
Fuel levies hit two weeks before other surcharges and eight days after 2022 rate increases.
Also on the podcast: What’s holding back US investment in more oil drilling?
Even as retail prices drift lower, commodity diesel prices have posted two days of sharp declines.
Renewable diesel continues to grow in popularity due to its emission-reduction potential and health benefits for workers and surrounding communities.
Also on the podcast: The incredible shrinking US refining sector.
“Demand for RNG will continue its rapid growth trajectory. We are in the early days of seeing corporate goals to reduce carbon turned into actual actions,” Greg Roche, vice president of sustainability at Clean Energy, told FreightWaves.
Commodity markets have calmed down for now at least, and retail is catching up to earlier declines in the wholesale market.
Also on the podcast: The market for diesel exhaust fluid.
Suppliers of the vital product report tight supplies but so far appear to have been able to meet their required deliveries.
CNGmotive’s solution for fueling locomotives provides potential to decarbonize rail using renewable natural gas.
Diesel prices on the key commodity exchange were sharply higher Monday.
Also on the podcast: OPEC+ surprises with more oil in January.
While times of uncertainty like these can be troubling, what goes up must come down – or at least level off. The price of diesel fuel is projected to lower to a national average of $3.09 in middle and latter parts of the coming year, offering a sigh of relief for trucking.
Markets will likely need time to settle before the retail markets capture much of the recent decline in commodity diesel prices.
The decline is far from the largest percentage-wise, but raises the question of what will be the retail reaction.
Also on the podcast: What the release of oil from the Strategic Petroleum Reserve means.
Several forecasts that look into 2022’s supply-and-demand balance see a market more favorable to oil consumers than that of 2021.
Price of low-sulfur fuel is rising faster than high-sulfur fuel. Ships with scrubbers stand to gain.
Also on the podcast: Is the tide turning in oil markets?
The nation’s key railroad lobbying group did not like the original House infrastructure bill but has praise for the final product.
Retail prices are rising even as commodity prices have turned downward.
Also on the podcast: Why banning oil exports would have no impact on prices.
The increase of 0.3 cents a gallon is the smallest in the eight-week run of higher levels.
Neste is supplying Cox Petroleum Transport with a fuel that can bring immediate emissions and cost savings: renewable diesel.
Also on the podcast: Time to tap strategic oil stocks?
The front-month price of ultra low sulfur diesel on the CME commodity exchange is at its lowest level in several weeks.
TA’s diesel sales figures are a strong indicator of demand for the fuel, and they suggest that the third quarter wasn’t that much stronger than the second.
Fuel levies on U.S. customers to rise 100 basis points for air and ground services, source says.
Also on the podcast: The growing tie between high natural gas prices and what you’re paying for diesel.
The latest rise is the smallest of the past four weeks but still a hefty 4-plus cents per gallon.
Also on the podcast: checking on the numbers in the red-hot diesel market.
Several large retailers are pledging that in less than 20 years, they will ship goods across the ocean without emitting greenhouse gases. Some environmental groups say that’s not soon enough.
The benchmark price for setting fuel surcharges is now at its highest level since November 2008.
This episode also dives into the tight inventories facing the diesel market.
The transportation industry needs to transition to cleaner fuels to keep global temperature rise below 1.5 degrees Celsius. Green hydrogen-based fuels have potential to decarbonize shipping, aviation and long-haul trucking, according to recent reports.
Inventories are tightening, and the diesel gains are running stronger than crude.
Cost of fuel consumed by container ships, bulkers and tankers is effectively at a seven-year high.
The Sustainable Shipping Initiative’s recent report on marine fuels urges the inclusion of all aspects of sustainability, such as air quality, human rights, water, social equity, land use and of course, greenhouse gas emissions.
The increase of more than 7 cents is the highest jump since March, while the outright price is the highest since December 2014.
Also on the podcast: A roundup of recent news in the oil and diesel world.
An ATRI study shows how electric vehicles can be taxed to keep the Highway Trust Fund from going bankrupt.
Commodity diesel prices also rose on Monday, up toward October 2018 levels
Trucks release a lot of data. Two attorneys from the Benesch law firm discuss the ownership of that data on this week’s podcast.
“Currently, sustainable aviation fuel accounts for less than 0.1% of the world’s use of aviation fuel. We want to help our customers use more SAF,” said Anna Mascolo, president of aviation at Shell.
Fuel hedging expert Elaine Levin explains her bullish outlook on price hedging and how it can help carriers lock in their fuel budget.
Renewable diesel is the hot new market in the fuels business. An expert discusses why.
SkyBitz executive Ken Moore explains how remote fuel storage tank monitoring works and why it can help reduce freight costs in a fireside chat at FreightWaves’ Fuel Buyers Summit.
“The lower the carbon intensity of the fuel, the higher the value,” Megan Boutwell, VP of operations at Stillwater Associates, said about low-carbon fuel standards.
Stephen Jones of Argus Media is one of the company’s leading analysts. He shares the Argus view of the market at the FreightWaves Fuel Buyers Summit.
Even as the benchmark number rose, diesel on the key commodity exchange declined sharply.
Times are very good for independent drivers, according to a person who works with their finances.
FreightWaves has a diverse group of experts to talk about the No. 2 cost for trucking companies.
There is still lots of lost crude oil production in the Gulf of Mexico from Ida.
The Biden administration set a target to produce 3 billion gallons of sustainable aviation fuel by 2030. Domestic production currently sits around 4.5 million gallons per year.
FreightWaves’ Brian Straight was at the big conference for home delivery in the city of brotherly love.
Even as the benchmark number for surcharges rose, the commodity price Monday took a significant downturn.
Last week’s commodity diesel prices were higher after big declines the previous week.
Loss of refining capacity seems to be spooking traders more than the crude production outages in the Gulf of Mexico.
Also on the podcast: The founder of a logistics startup surveys the pre-holiday supply chain.
A.P. Moller – Maersk expects to save about 1 million metric tons of CO2 emissions annually with eight dual fuel container vessels.
On the same day, the commodity price of ultra-low sulfur diesel took a huge upward move.
The downward pressure on oil markets can be summed up by the two D’s: delta and dollar.
Also on the podcast: Trimble’s Delaney looks at the TMS landscape today.
Commodity and wholesale prices are falling sharply, but retail numbers are not falling as fast.
The latest IEA report shows an oil supply/demand imbalance may be on its way to easing.
Whether it is difficulty restocking gasoline stations or the need to move agricultural products around due to drought, the waivers seek to boost trucking capacity.
Growing concerns about oil demand declining as a result of the Delta variant are pushing prices lower.
Also on the podcast: The investment drought in oil setting the table for higher prices
The increase in the benchmark comes even as commodity markets experience another Monday dip.
Diesel sales were up 21.2% from last year, but were less profitable on a per-gallon basis
Also on this week’s podcast: A shoutout to fuel surcharges.
High demand for jet fuel out West from firefighting crews and airlines is affecting commercial flights and cargo (forecast video included).
The 12-week run of increases added 31 cents to benchmark price from its starting point.
Also on the podcast: the current roller coaster in diesel prices.
Twelve consecutive weeks of increases in the basis for fuel surcharge is countered by a big decline in commodity markets.
Also on the podcast: A key agency reviews the outlook for the tight oil market.
Commodity oil markets swung wildly last week but ultimately trended down overall.
Also on the podcast: Why the latest OPEC meeting was so unique
The key benchmark price for trucking companies tracked the higher numbers in the wholesale market.
An expected increase in output has been put on hold over failure to reach consensus on a dispute involving the UAE.
The president won’t consider raising fuel taxes to pay for highway and road spending, effectively killing the 65-year-old program, Mullett claims.
Commodity petroleum markets Monday trended lower on Delta variant fears and possible OPEC+ action
Hapag-Lloyd now will add 12 23,500-TEU container ships to its fleet beginning in 2023.
Also on the podcast, host John Kingston talks about one of the final “return to normal” numbers being achieved in oil markets.
Rising fuel costs are yet another woe for containerized cargo shippers, while widening spreads should benefit ships with scrubbers.
KeepTruckin has unveiled Fuel Hub, a telematics-based machine learning tool that can help identify drivers and vehicles that may be using more fuel than needed.
