Oil fell more than $5 on Wednesday — down from a $100-plus per-barrel closing price on Tuesday — after OPEC said it would lift its production ceiling and a government report showed gasoline and diesel inventories rose last week.
December 14, 2011Business
DOT Freight Transport Index Rises 4%
The Department of Transportation’s freight transportation services index rose 4% in October from a year ago but took its first month-to-month downturn in five months, DOT said Wednesday.
December 14, 2011BusinessFuel
Gasoline Price Update: Price Drops 0.4¢ to $3.286
The Department of Energy has altered its weekly gasoline price average to $3.286 a gallon, a 0.4-cent weekly decline, from a previously announced 1.6-cent decline.
December 14, 2011Business
Report Cites States’ Reluctance to Raise Fuel Taxes
State governments are losing out on over $10 billion in transportation revenue each year, due to states’ reluctance to raise fuel taxes, according to a study released Wednesday.
December 14, 2011Business
TravelCenters of America to Add RFID Cardless Fueling System
TravelCenters of America said Wednesday that it will purchase and install cardless fueling technology at all of its locations nationwide.
December 14, 2011Business
Import Prices Climb 0.7% in November
The price of goods imported to the United States rose 0.7% in November, the first increase in four months, the Labor Department said Wednesday.
December 14, 2011BusinessSafety
NTSB Wants Ban on All Phone Use and Texting While Driving
U.S. drivers would not be able to send text messages or use mobile phones — even with headsets or speakers — under a recommendation Tuesday by the National Transportation Safety Board aimed at preventing distracted-driving crashes, Bloomberg reported.
December 14, 2011BusinessFuel
Diesel Drops 3.7¢ to $3.894 in Third Decline
Diesel’s national average pump price fell 3.7 cents to $3.894 a gallon, its third straight downturn, while gasoline also declined, the Department of Energy said.
December 14, 2011Business
Former ATA Chairman and U.S. Xpress Co-Founder Patrick Quinn Dies at 65
Patrick Quinn, co-founder, co-chairman and president of U.S. Xpress Enterprises and a former chairman of American Trucking Associations, died Tuesday. Quinn, 65, had brain cancer.
December 13, 2011Business
Truck Driver Turnover Rate Rises for Fourth Straight Quarter
The turnover rate for truckload drivers at large fleets rose to 89% in the third quarter, from 79% in the second quarter, the fourth straight increase, American Trucking Associations reported.
December 13, 2011