Crude oil fell $7 to below $95 a barrel in early trading Monday, a seven-month low, as Gulf of Mexico refineries escaped major damage from Hurricane Ike over the weekend, Bloomberg reported Monday.
September 15, 2008Search
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EU Sets 10% Biofuels Requirement
The European Parliament’s energy committee voted to require that at least 10% of road transport fuel in 2020 come from renewable sources led by biofuels, while adding checks to prevent food shortages, Bloomberg reported.
September 15, 2008Diesel Drops 3.6¢ to $4.023; Gasoline Jumps 18.7¢ to $3.835
Despite a major hurricane on Texas’ Gulf Coast this weekend, diesel fuel’s national average price fell for the ninth straight week, dropping 3.6 cents to $4.023 a gallon, but gasoline’s average jumped 18.7 cents, the Department of Energy said Monday.
September 16, 2008Consumer Confidence Jumps on Lower Fuel Prices
U.S. consumer confidence this month rose by the most in four years in September, according to the Reuters/University of Michigan’s preliminary monthly consumer sentiment index, released Friday.
September 5, 2008Court Denies Calif. Port Stay; ATA Files Expedited Appeal
A federal judge last week denied American Trucking Associations’ request for a preliminary injunction against controversial portions of emission-reduction programs at the California ports of Los Angeles and Long Beach.
September 15, 2008Trucking Companies Face Growing Cash Crunch as Shippers Struggle to Survive Downturn
Astronomic fuel prices are only part of the economic drag on trucking these days. Add the growing length of time on accounts receivables, more customer bankruptcies and the tightening of credit by suppliers and lenders, and it’s easy to see how carriers’ cash flow has ebbed.
September 15, 2008Fuel Prices Continue Downward
Fuel prices last week continued their slide from July’s record highs, as the U.S. retail average for diesel fuel dropped for an eighth straight week and gasoline for the ninth.
September 15, 2008Oil Slides Below $103 a Barrel as Hurricane Ike Moves Into Gulf
Crude oil prices continued to slide early Wednesday, even as Hurricane Ike intensified as it moved into the Gulf of Mexico and a top OPEC official said the cartel would trim an oversupplied market, Bloomberg reported.
September 10, 2008DHL Testifies Before House Panel on UPS Air Deal
DHL Express Global Chief Executive Officer John Mullen told a House panel Tuesday that the company’s proposed deal to let UPS Inc. handle its North American air services was necessary for the company “to remain a viable competitor in the U.S. market.â€
September 9, 2008EPA Approves More Fuel Waivers Due to Storms
In the aftermath of Hurricane Gustav and Tropical Storm Hanna, EPA has exercised its authority under the Clean Air Act to temporarily waive certain federal clean fuel requirements for areas of Alabama, Georgia, and North Carolina until next Monday, Sept. 15.
September 8, 2008