Diesel fuel costs have fallen from a two-year high, dipping 1.3 cents to $3.171 a gallon in the wake of lower oil prices, according to the U.S. Department of Energy. Diesel’s decline followed last week’s 6.8-cent jump that had been the highest in more than six months. Last week’s $3.184 average price was the highest since October 2008. The drop – even if temporary – will certainly be welcomed at Vulcan Materials. In its third-quarter report, the company noted that its cost for diesel fuel increased 17 percent, reducing pretax earnings $4 million.
Oils well that ends well
- Written by Mark Kuhar