Average Diesel Prices Slide, Crude Oil Gains

Source: EIA

The average price of diesel fuel in the United States fell again last week, dropping to levels last seen in mid-May, according to the latest numbers from the Energy Department.

The price of a gallon of on-highway diesel fuel fell 3.2 cents from the previous week's price, settling at $2.316. Compared to the same week in 2015, the price is 30.1 cents cheaper.

Diesel prices were down in all regions of the U.S. with the largest decrease occurring in the Gulf Coast region, falling by 4 cents. The smallest change in prices was in the New England region where diesel fell by 1.8 cents.

The average price of regular gasoline was mostly flat last week, dropping only 0.9-cents to $2.15 per gallon. The price is 47.9 cents cheaper than it was a year ago.

Prices fluctuated depending on the region with the largest decrease occurring in New England with a drop of 4.3 cents per gallon. Prices were actually up in the Midwest where there was a 4-cent increase.

Crude oil prices have been falling in the past few months but were up around as of Aug. 8 due to renewed speculation that oil production may decrease to offset the lack of demand, according to MarketWatch.

Member countries of OPEC like Venezuela and Kuwait have indicated recently that they would like to reduce production to offset the lower global demand that has plagued the oil market since 2015. However, earlier this year OPEC countries failed to come to an agreement after similar speculation.

Related: A Different Approach to Fuel Efficiency Coaching

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ATA Report Breaks Down Trucking’s Big 2015

The American Trucking Associations has released the latest edition of its almanac of trucking, ATA American Trucking Trends 2016, which showcases industry trends over the last decade.

The new report reveals that trucking last year posted gains in employment, number of truck drivers, and truck sales. Trucking revenues in 2015 also set a new record high for the industry.

“In many ways, 2015 was a good year for our industry, and Trends clearly demonstrates that,” said Chris Spear, ATA president and CEO. “Trends provides indispensable information to trucking companies, industry suppliers, logistics providers, analysts, public policy decision makers, investors and many others. Information that is crucial to making sound decisions about the future.”

In the new edition of Trucking Trends, ATA found that trucking collected a record $726.4 billion in gross freight revenues, or 81.5% of the nation's freight bill in 2015. Trucks carried 10.49 tons of freight in 2015, accounting for 70.1% of domestic freight tonnage. The report also found that 3.63 million Class 8 trucks are in operation.

“According to our data, trucking revenues topped $700 billion for a second straight year, setting an all-time record of $726.4 billion in 2015, while trucks moved more than 10 billion tons of freight,” said Bob Costello, ATA chief economist.

“While the first half of 2016 has been challenging for the industry, trucking is coming off two very strong years and we are optimistic about the future," he added.

The American Trucking Trends 2016 report also includes data on key points like the amount of taxes the industry paid, the number of miles combination trucks traveled and what fuel they consumed, key employment data, and the number of trucking companies by company size.

The report is available for purchase here. For more on the American Trucking Trends, watch ATA chief economist Costello discuss the report here.

Related: Trucking Tops $700 Billion for First Time

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Tailgating Driver Not a Complete Idiot

Out-of-control car has bumped the semi and now veers to the left and will mangle itself on the rock wall, then.... Photo: Tom Berg from ADPS video.

Maybe you saw it on the news late last week: A motorist doing some high-speed tailgating on an Interstate highway in Arizona lost control and crashed big time. She lost it when she swerved to avoid a matress that she didn't see in enough time because she was too close to the pickup just ahead.

And what did she hit when she swerved to the right? A semitrailer, which wavered a bit from the impact but stabilized quickly. It was enough to cause her to lose control again, and.... Well, watch the Arizona Department of Public Safety video here.

Incredibly, the motorist was not injured at all when her car hit a rock wall to the left, rolled onto its roof and skidded to the right shoulder, because she was wearing her seat-and-shoulder belt. So she wasn't a complete idiot. An ABC News version of the video identifies her as a 23-year-old from Texas, and offers tips on tailgating vs. safe following.

Aside from her altering her brainless behavior, how could the accident have been avoided? The pickup's driver should've seen her coming and pulled over to let her pass. Or he could've sped up, gotten around the semi and pulled to the right, or slowed down and then pulled in behind the semi and watch her zoom by. That's what I do.

Or the semi's driver could've slowed down and let both cars go by. But in no way am I blaming that guy. He pulled over as required and probably ran back to help. That's what truckers do.

And ya know what? If either of the other drivers had done something different, this lady would've missed out on a life's lesson.

Related: NTSB Confirms Tesla Was Speeding When It Hit That Trailer

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Port trucking in South Carolina

The port of Charleston, South Carolina, ranks as one of the fastest-growing major U.S. seaports over the last five years, growing 10% in 2015 alone. Last year, the port handled 1.12 million containers, moved 1 million tons of non-containerized cargo, served 2,066 vessels, and had time to get 189,050 cruise passengers on their way to a vacation on the high seas. To get all of that done, though, takes a lot of trucks, as the photos in this gallery indicate. (All photos by Sean Kilcarr/Fleet Owner)

Poll: 79% of Americans want tougher fuel economy standards

Three in four Americans agree that cars and trucks are a leading source of carbon pollution in the U.S., and a new poll by the Natural Resources Defense Council (NRDC) shows that respondents of all political views “overwhelmingly” endorse two Obama Administration initiatives to "put the brakes on" that climate pollutant, according to the non-profit environmental organization.

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Webinar: Nine things to know about the new rules for transporting food

The rules of the game changed this spring for carriers, shippers and receivers involved in the transportation of food. It happened with the publication of the final Food and Drug Administration (FDA) rule on Sanitary Transportation of Human and Animal Food, which establishes requirements for transportation equipment, operations, and the training and certification of carrier personnel.

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Expedited Carrier V3 Transportation Aiming for More Growth

Expedited carrier V3 Transportation has bveen enjoying rapid growth since launching in the first quarter of 2013.

V3 Transportation held an open house on Aug. 5 to inaugarate its new headquarters facility in Seville, Ohio. The expedited carrier has enjoyed rapid growth since launching its operations with “two laptops and two cell phones” in the first quarter of 2013. Now, according to founding partners Bob Poulos, CEO, and John Sliter, president, the company ranks among the fastest-growing operations in its field and is poised for further growth.

The carrier, which was named an HDT Truck Fleet Innovator earlier this year, currently employs 48 in operational, customer service and other office positions to support a fleet of 153 trucks. Those are piloted by 192 owner-operator expedited drivers. By the end of 2016, the fleet of straight trucks, truckload tractor-trailers and Sprinter vans will number some 200, said Poulos in a media conference call held ahead of the open house.

V3's previous headquarters' location, in Brunswick, Ohio, was limited to 3,500 square feet. The new facility boasts 10,000 square feet of office space and more than 6,000 of shop space.

The Seville HQ was designed to be large enough to support the company's growth over roughly the next three years, said Sliter.

Indeed, the company is looking to add 38 office employees in that time. “Based on our current growth, we'll outgrow this building in three years,” said Poulos. “We're already making plans to move into another building” at that point. “We plan to be a major player [in expedited] in the next three years,” he added.

According to Poulos, V3 has been growing “100% every year” since its launch. “Revenue is running at a rate of about $25 million this year compared to $12 million last year,” said Sliter.

Poulos said that it was “also a milestone year for us as former Panther II Transportation CEO Craig Amato has joined us as a partner.” Serving as senior advisor, Amato is involved primarily in V3's growth initiatives.

“Our growth ahead will be organic as well as cold-start and will potentially include some acquisitions,” said Poulos. He noted that “in an industry dominated by [hauling for] auto manufacturers, we have been successful as well in some other markets, including the chemical and haz-mat space.”

Poulos said that V3 is not engaged with e-commerce now, but is “carefully looking” at that sector for the future. “Inventory levels are high right now. But any bump in the road leads to instant demand for our service. Demand for expedited trucking is going to be high.”

“People are getting fed up with freight ending up on a truck with no insurance,” Amato remarked. “We're guaranteeing quality service.”

As for acquisitions, Amato said they are investigating three such deals right now as well as looking into expanding with services for Canada and Mexico freight. “We want the ability to be more of a one-stop solution to our clients. That will definitely help our growth.”

The new V3 facility was built with drivers in mind. It boasts a driver lounge, showers, and 24-hour access to a kitchen. “It's got everything needed to attract and retain owner-operators,” said Sliter, who noted that V3's driver turnover rate is running at just about 36% this year.

Sliter said fleet growth for the balance of the year will focus on V3's “bread and butter” straight trucks, especially those team-driven. “And we'll be adding more haz-mat certified drivers. We pay for that certification. A lot of our competitors don't have hazmat drivers. Offering that service benefits our growth plans.”

Related: Smarter is Faster

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