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January 19, 2000 2:08 PM, EST

The national average price of diesel fuel dipped to $1.307 on Jan. 10, the first drop in three weeks, tracking a drop in crude oil prices to $24.23 a barrel on the New York Mercantile Exchange.

	Fuel Prices
	Week of Jan. 10:
	source	price	change
	DOE	130.7	-0.2
	Comdata	128.9	+0.5
	OPIS self-serve	130.2	+0.8
	OPIS wholesale	75.1	-0.7

However, the price of crude bounced back later in the week, according to the Bloomberg News Service.

Diego Saltes, an analyst with the Economics and Statistical Analysis Department of American Trucking Associations, said the “bearish” market was the result of increases in inventory levels, as of Jan. 7, along with rumors that compliance with production cuts ordered by the Organization of the Petroleum Exporting Countries might be slipping.

Oil prices — and the cost of diesel — rose drastically through the end of 1999 after the cartel announced in March that it would reduce production 6% below 1998 levels in an effort to shrink worldwide supply. The steady rise of prices forced a number of truckload and less-than-truckload companies to implement fuel surcharges.

For the full story, see the Jan. 17 print edition of Transport Topics. .