From the American Trucking Association:

Updated on 1/24/00 - 4:57:00 PM EST

Diesel Price Skyrockets in Northeast

An increase of 39.5 cents a gallon in the New England region helped push the national average price of diesel fuel up 11.1 cents, according to figures released Jan. 24 by the Department of Energy.

Diesel fuel prices surged in the Northeast as cold weather pinched heating oil supplies. The price in the New England region skyrocketed to $1.836 from $1.441 a week earlier.

http://www.ttnews.com/webboard/wbpx.dll/~ttnewshttp://www.ttnews.com/webboard/wbpx.dll/~ttnews Tom Kloza, editorial director of the Oil Price Information Service, said recent wholesale price hikes will bite truckers as diesel is diverted to satisfy the increased demand for heating oil in the region. The average cost of diesel went from $1.385 to $1.694 in the Central Atlantic region, pushing prices throughout the East Coast up from $1.312 to $1.505.

Led by the sharp increase in the Northeast, the national average price of diesel jumped $1.418 from $1.307 a gallon.

Kloza warned in a press release that that the tight supply in the Northeast might not ease until February. "Refiners and traders are racing to get fuel to the market, but the system may not be comfortable for two weeks or more. Until then, look for price spikes and tremendous volatility," he said.

The rate hikes have triggered a strong response from the trucking industry. In a letter Monday to New York Gov. George E. Pataki, New York State Motor Truck Association President William G. Joyce Jr. complained about the jump in diesel prices and urged the governor to take action.

"The price of diesel fuel jumped from $1.449 last Thursday to $1.729 on Friday and is up to as high as $2.059 today," Joyce said. "I urge you to take whatever steps are necessary to determine the cause of this problem and eliminate any possible profiteering." By Transport Topics Staff

Link to story:

http://www.ttnews.com/members/topNews/0003583.html

Another related story below with excellent graphs and great information:

Fuel Line, The publication by the American Trucking Association. reports a spike in Fuel prices on the east coast ranging from 19.5 to 39 cents per gallon in the last week (1-17 to 1-24-2000)

http://www.truckline.com/pdf/fuelline_free.pdf

-- Carl Jenkins (Somewherepress@aol.com), January 25, 2000

Answers

I can't believe that hundreds of semi tank truck owners have not purchased diesel fuel where it is cheap (Georgia, Alabama etc) and hauled it to New York for an instant profit of literally 20 or 40 cents or more per gallon. The internet could be used to make contact at both ends. This would bring the price down somewhat and save people from freezing. Then gobmint would not need to meddle and screw it up worse. Of course, they would have to refill their own tanks before they unloaded to have reasonable cost fuel for the return trip.

-- Curly (Moe@3stooges.gom), January 25, 2000.

curly, stick to slapstick. Tank Truck owners have the same ownership of loads as do regular box truck owners, eg- NONE!! They are TYPICALLY contracted to specific companies and don't wild cat. Even wildcat truckers won't have the several thou on them to invest in the initial loading purchase.

Night train

-- jes a truckin' ol footballer (nighttr@in.lane), January 25, 2000.

Diesel in midcoast Maine this morning (just ahead of the blizzard :-) 1.999 a gallon. No kerosene to be had anywhere.

-- Cash (cash@andcarry.com), January 25, 2000.

This is going to have some devastating domino effects.

Unless of course, we look at it this way - Fuel isn't part of the "core" CPI index so its irrelevant.

Who, what kind of people makes those kind of remarks and why are they given positions of responsibility?

-- Guy Daley (guydaley@bwn.net), January 25, 2000.