Following the NASSTRAC conference last week, Mike Regan discusses what came out of the sessions with transportation industry CEOs and financial analysts. What he noticed was that the magnitude of cost increases for the year may be much higher than originally thought. According to freight carrier executives, an increase of 20% over the next three years is possible.
President Obama announced the creation of the Financial Fraud Enforcement Task Force last week. This group is designed to root out illegal speculation oil markets and will be conducted by the Department of Justice to evaluate developments in commodities markets.
The Association of State Highway and Transportation Officials is withdrawing its opposition to an important federal policy change that puts cyclists and pedestrians on a more equal footing with motorists.
A report by the Wall Street Journal earlier this month noted how Detroit automakers were “struggling with rail shipping woes…stalling deliveries of finished vehicles.” The report went into detail about US railroads putting rail cars into storage during the recession and how they do not have enough capacity during times of demand surges.
Retail diesel fuel prices in the US fell seven-tenths of a cent last week, to a US average of $4.098 per gallon. This is the second small decrease in the last four weeks, which may be a sign that prices are beginning to stabilize.
– Ben Dundas, Web Analyst