The Department of Energy sharply boosted its projections for diesel fuel prices into 2008, raising its forecast from a month ago by 18 cents a gallon for this month alone, to an average of $3.36 a gallon.
December 11, 2007Business, Safety, Government
Covenant to Take Modest Loss or Break Even in 4Q
Truckload carrier Covenant Transportation Group said Wednesday it expects to report break-even to a net loss of 10 cents per share for the fourth quarter.
December 12, 2007Government, Business, Fuel
October Trade Gap Rises 1.2%
The U.S. trade deficit widened in October as crude oil prices surged, the Commerce Department said Wednesday.
December 12, 2007Government, Business, Safety
FedEx Ground Plans $87 Million Ohio Hub
FedEx Corp. said Tuesday it will be build an $87 million facility in Ohio for its FedEx Ground unit, as part of plans to double its North American ground shipping capacity.
December 11, 2007Business
Fed Cuts Key Interest Rate Quarter-Point to 4.25%
The Federal Reserve voted Tuesday to lower the benchmark U.S. interest rate by a quarter of a percentage point to 4.25%, the third reduction in four years.
December 11, 2007Fuel, Business, Government
DOE Boosts ’08 Diesel Price Forecast
Business, Government
N.Y. Thruway Truck Tolls Set to Rise in January
Truck traffic will shift to secondary roads if a proposed toll increase on the New York state Thruway goes into effect, business leaders told state lawmakers Monday, the Rochester (N.Y.) Democrat and Chronicle reported Tuesday.
December 11, 2007Business, Government, Logistics
ArvinMeritor Buying Canadian Company; Affirms Forecast
Heavy-duty parts maker ArvinMeritor said Tuesday it will acquire Mascot Truck Parts, based in Ontario, Canada. Terms were not disclosed.
December 11, 2007Fuel, Business, Logistics, Government
Diesel Drops 9.1¢ to $3.325
The national average price of diesel fuel fell for a second straight week, dropping 9.1 cents to $3.325 a gallon, the Energy Department said Monday.
December 11, 2007Business, Technology, Equipment, Safety
Barclays Cuts Investment in Ryder System
Financial firm Barclays Global Investors, which had been the largest shareholder in Ryder System, has reduced its stake in Ryder by more than 50%, Bloomberg reported.
December 10, 2007Fuel, Business, Equipment
FedEx Teams With Parker Hannifin on Hybrid Technology
FedEx Ground and Parker Hannifin Corp. said Friday they have agreed to test a Class 6 vehicle employing hybrid hydraulic technology that seeks to improve fuel mileage by greater than 50% and significantly reduce engine emissions.
December 10, 2007