December 2013

Lower fuel Prices for 2014

Look for fuel prices to be lower next year, according to a new report from the U.S. Energy Department's Energy Information Administration.

It forecasts diesel fuel prices, which averaged $3.97 per gallon in 2012, are projected to average $3.92 per gallon this year and $3.77 per gallon in 2014.

Regular-grade gasoline retail prices is projected to fall from $3.63 per gallon in 2012 to an average of $3.50 per gallon this year and $3.43 per gallon in 2014.
 

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Economic Growth Will Benefit Trucking in 2014

The U.S. economy should pick up next year to grow at a 2.5% pace and stimulate trucking demand, American Trucking Associations Chief Economist Bob Costello said.

Costello said higher factory output and domestic energy production should increase gross domestic product to 2.5% from the 1.7% expected for this year. Increased hiring and higher consumer income also will spur demand in 2014, he said, along with rising demand for cars, light trucks and housing. 
 
Here are a few critical data points Costello highlighted from this survey: 
  • In 2012, trucks moved 73.7% of all freight by value and 70% of the tonnage versus 3.3% of value and 15.8% of tonnage moved by rail;
  • The average length of haul for trucks is 212 miles;
  • Only 3% of freight tonnage moved on multiple modes - i.e. a train and a truck, or a barge and a truck;
  • Just 15.1% of all freight shipments were longer than 500 miles and only 9.7% traveled more than 750 miles.
Bond Fallout Could Mean One-Third Fewer Brokers in 2014
The FMCSA has revoked the operating authority of 8,180 brokers since Dec. 2, the date the federal agency began revoking authority from brokers without a $75,000 bond. That's a whopping 38% of the 21,700 brokers that had operating authority at the beginning of the month.
Read more here
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