Declining Diesel Prices Benefit Trucking Industry

Last week the national average price of diesel fuel hit $3.869 a gallon marking its lowest price since November according to the Department of Energy’s Energy Information Administration. The price change was brought by three consecutive weeks of price drops, culminating in a 2.5 cent drop the week of July 21. This past week’s decline in diesel prices marks a 3.4 cent drop since the same week last year.

The effects of the declining diesel prices have been felt throughout the U.S. as each region continues to experience drops in prices. The Central Atlantic region led the way with a 3.7 cent drop, the East Coast dropped 3.3 cents and the Lower Atlantic dropped 3 cents. Only California, New England, and the Central Atlantic region still have diesel prices over $4 a gallon but prices continue to decrease. California’s diesel remains the most expensive at $4.096 a gallon while the Gulf Coast boasts the nation’s cheapest diesel at $3.773 a gallon. While diesel prices continue to vary between regions, the national average has steadily declined in recent weeks.

Cheaper diesel is good for trucking companies that are often plagued by expensive fuel costs. With diesel prices on the decline, now is a great time to take on new loads and maximize the output of your fleet. Declining diesel prices mean increasing profits for trucking companies ready to capitalize on this opportunity.

If your trucking company is looking to expand while diesel prices are low but needs more cash flow, freight factoring can help. By submitting your freight bills for factoring, trucking companies receive immediate cash so they can take on new loads and keep expanding their business. Freight factoring is a fast and reliable way for trucking companies to increase their cash flow and take advantage of the nation’s declining diesel prices.

Don’t let this opportunity pass you by. Fuel your trucks with cheaper diesel prices and fast funding from freight bill factoring!