Trucking news and briefs for Wednesday, May 27, 2020:
Fuel prices increase slightly after 19-week decline
The U.S.’ average price for a gallon of on-highway diesel increased for the first time since the beginning of the year during the week ending May 26, according to the Department of Energy’s weekly report.
Prices had fallen nearly 70 cents over 19 consecutive weeks from $3.079 per gallon during the week ending Jan. 6 to $2.386 per gallon during the week ending May 18 before a slight uptick of four-tenths of a cent during the most recent week.
Diesel prices now stand at $2.39 per gallon nationwide. The nation’s cheapest fuel can be found in the Gulf Coast region at $2.175 per gallon, followed by the Midwest region at $2.23 per gallon.
The most expensive fuel can be found in California at $3.182 per gallon, followed by the Central Atlantic region at $2.666 per gallon.
Cargo theft volumes increased in first quarter
Cargo theft activity was higher year-over-year in the first quarter of 2020 despite a drop in theft values, according to data gathered from police reports and insurance companies by cargo theft recording firm SensiGuard.
The firm reports a 49% increase in theft volume with a 9% decrease in value in 2020’s first quarter compared to the same quarter a year ago. SensiGuard recorded a total of 217 cargo thefts during the first quarter of 2020 with an average loss value of $105,659. No thefts during the period were worth more than $1 million, the firm notes.
