The first month of 2018 brought headlines regarding rising prices for crude oil and diesel fuel. But what happens when we take a closer look?
That’s what the Applied Knowledge team will examine in the February edition of our exclusive Breakthrough®Advisor publication.
Three-Year Highs for Crude Oil and the DOE Index
For the first time since December of 2014, WTI crude oil prices closed above $65 a barrel due in part to drops in U.S. crude stockpiles. Brent crude rose to hit a three-year high as well, surpassing $70 a barrel in January.
As we reported on the Breakthrough®Fuel blog, the DOE Index, which offers a national average for retail diesel fuel prices, exceeded $3 a gallon in January. That’s yet another three-year high. This, however, doesn’t give shippers a complete picture. As we often point out, there is a difference between actuals and averages.
The wholesale price for fuel isn’t accurately reflected in these price points, and an index-based approach fails to tell the whole story. Actual costs can vary depending on where in the country you’re shipping goods. So, how did all this impact market costs? We’ll fill in the details with this month’s Breakthrough®Advisor.
Severe Weather Woes
More rough winter weather continued to have an impact on fuel and transportation in parts of the U.S. following a deep freeze at the end of 2017. How is that impacting regional price volatility? Some regions are seeing premiums, and we’ll tell you where.
Are you interested in gaining more insights on the fuel market and how it impacts your transportation budget? While the Breakthrough®Advisor is an exclusive publication for our clients, we also offer the Advisor Brief, a recent sample version of the content, for those who are interested.