In the budget deal made to avert a government shutdown, many transportation budgets were cut and others were spared. Cuts were made to the New Starts program, the TIGER program, the Partnership for Sustainable Communities and funding that has not been obligated by the highway contract authority.
The Federal Motor Carrier Safety Administration is asking for more comments on its proposed mandate for electronic onboard records and whether it sets up the possibility of driver harassment.
The US average of diesel fuel prices last week climbed for the 18th time in the last 19 weeks, rising to $4.078 per gallon. This was the first time that diesel prices rose above $4 since September 2008.
The Energy Information Administration is predicting that fuel prices this summer will be extremely high and that oil markets will continue to tighten over the next two years. The organization expects robust growth in world oil demand and slow growth in supply.
According to data from ACT Research, pent-up demand continues to point to a steady increase in buying activity. Preliminary reports on March’s buying activity show the largest monthly order intake since May 2006.
The Ceridian-UCLA Pulse of Commerce Index rose 2.7 percent in March, after declines in both January and February. This index, which tracks the volume and location of diesel fuel purchased by truckers, has shown 16 consecutive months of year-over-year growth.
– Ben Dundas, Web Analyst