Truckload and less-than-truckload carrier Jevic Transportation said Monday it is discontinuing operations, due to soaring fuel costs and a weak economy.
May 19, 2008Fuel, Business, Safety, Government
Jevic Transportation Folds, Citing High Fuel Costs
Fuel, Government
China’s Diesel Stockpiling Boosting Prices, Journal Says
The worldwide spike in diesel prices is being driven in part by China’s stockpiling of the fuel in advance of this summer Olympics, which it is hosting, and the United States is exporting more diesel to the world market, the Wall Street Journal reported Monday.
May 19, 2008Fuel, Business
UPS Places Large Order for Alternative-Fuel Trucks
UPS Inc. last week announced a major increase in its investment in alternative-fuel vehicles, saying it has ordered 200 diesel-electric hybrid delivery vans and 300 vans powered by compressed natural gas.
May 19, 2008Business, Fuel, Government
Rendell Says He’s Close to Deal to Lease Pennsylvania Turnpike
With the fate of a proposal to toll Interstate 80 still up in the air, Pennsylvania Gov. Ed Rendell (D) said his administration was close to finishing a plan to privatize the 524-mile Pennsylvania Turnpike, last week taking bids from investors that could provide the state about $12 billion.
May 19, 2008Fuel, Business, Government
Fuel Prices Skyrocket
Retail fuel prices around the nation soared last week, setting new records for diesel and gasoline, according to the Department of Energy’s weekly survey of filling stations.
May 19, 2008Business, Fuel, Government
Crude Sets Record Near $128; DOE Suspends SPR Shipments
Oil prices reached a new record Friday near $128 a barrel and the Department of Energy said it would suspend shipments to nation’s Strategic Petroleum Reserve, the Associated Press reported.
May 16, 2008Business, Fuel, Government
Oil Price Falls Following DOE Report
Oil prices fell more than $1 a barrel Wednesday following an Energy Department report that showed inventories improved last week, and both the House and Senate voted to suspend crude shipments to the nation’s Strategic Petroleum Reserve, Bloomberg reported.
May 14, 2008Business, Fuel
UPS Orders 200 Hybrid, 300 New CNG Trucks
UPS Inc. said Tuesday it has ordered 200 hybrid electric vehicles for its U.S. delivery fleet, which it said was the largest commercial order of such trucks by any company.
May 13, 2008Government, Business, Safety, Fuel
Diesel Soars 18.2¢ to Record $4.331
Diesel fuel jumped 18.2 cents to a new record Monday, averaging $4.331 a gallon at the pump nationwide, the Department of Energy said.
May 13, 2008Business, Fuel
Oil Hits Intraday Record, Near $127 a Barrel
Crude oil hit a new intraday record Tuesday near $127 a barrel, and heating oil futures also hit a record, Bloomberg reported.
May 13, 2008