Amount of Diesel Fuel Purchased Declines
According to Bloomberg Businessweek, the amount of diesel fuel purchased by U.S. truckers has declined more in the past 3 months than any quarter of the past 10 years, excluding recessions. This statistic hits hard as the U.S. approaches the holiday season, meaning greater amounts of transportation of goods.
The Ceridian-UCLA Pulse of Commerce Index decreased at a rate of 4.3% in the 3 months leading up to and through September. The Index measures the amount of fuel purchased nationwide at rest stops.
This statistic clashes with others, including those from trucking companies, economists, and even the GDP, all of which reported and/or projected gains.
CEO of the trucking company Celadon Group Inc. believes the drop in diesel fuel being purchased is due to the quickly increasing fuel efficiency. “Every trucking company I know is focused on reducing miles per gallon,” Steve Russell said.
Further reports and projections are suspected in the upcoming weeks.