According to the U.S. Energy Information Administration (www.eia.gov), there may be some good news for truckers, particularly owner operator truck drivers. For the first time in ten weeks, the average retail price for diesel fuel decreased and refinery production and crude oil reserves are up.
With gas prices rising and diesel falling (see excerpts below), is this a sign of a favorable trend for truck drivers or just a fluke?
The national average retail regular gasoline price increased for the tenth week in a row to $3.941 per gallon on April 2, 2012, $0.023 per gallon more than last week and $0.257 above a year ago. The national average retail diesel fuel price decreased for the first time in ten weeks to $4.142 per gallon, $0.005 per gallon less than last week but $0.166 above a year ago.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 9.0 million barrels from the previous week. At 362.4 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year.
The entire report can be found here: http://www.eia.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/pdf/highlights.pdf