Despite oil futures decreasing price, on-highway diesel costs increase

According to the New York Mercantile Exchange, oil futures fell back below $110 a barrel after last week's 30-month high, Trucking Info reports.

Many experts believe that the sharp rise in oil prices last week requires investors to rethink whether the demand is sustainable in the global economy. Furthermore, the demand is only expected to grow by 4.4 percent during 2011, while the U.S. forecasts to increase by 2.8 percent.

The concern over the demand represent a contrast in thought in the worries over supply disruptions stemming from civil unrest in Libya. As a result, oil futures are up by nearly 20 percent in 2011, which could drive the price even further.

Despite this decrease, on-highway diesel prices increased by $0.10 last week, which is more than double the prior week's increase of $0.04.

Fleet management becomes increasingly more important during times of economic turmoil. As such, companies may wish to enroll their operators in online truck driver training courses to help them understand the best methods in conserving fuel.

By Andie Martin 

Despite oil futures decreasing price, on-highway diesel costs increase

Tuesday, April 12th, 2011