Rising fuel prices have been a challenge for commercial truck carriers in recent months but a report by the U.S. Energy Department’s Energy Information Administration predicts that diesel prices will be lower later in 2013 than they currently are.
Diesel prices averaged $3.97 in 2012 and averaged as high as $4.02 in January. However, the Energy Information Administration believes the ultimate average in 2013 will be lower and that the average for 2014 will be near $3.82.
The current weekly average is $4.104 per gallon, and on-highway diesel fuel retail prices averaged $4.02 per gallon in the fourth quarter of 2012 due to tight market conditions and strong demand for exports.
However, energy officials continue to state that energy price forecasts are uncertain due to the volatility of the markets, which can result in prices suddenly spiking or declining.
Any drop in diesel prices will be a boost for the commercial truck industry, which is currently experiencing a boom in business. The demand for professionally trained commercial truck drivers continues to soar and carriers are putting thousands of new trucks on the road each month. Business may be growing but that also means having to deal with higher fuel costs. Any drop in diesel prices provides relief to an industry that is dealing with the challenges of growth.
For those looking to take advantage of the growth in the commercial truck industry, Hamrick School is preparing students for a bright and long-term career as a professional truck driver. The demand for drivers is high, but the majority of carriers are looking for drivers with experience and professional CDL training, and Hamrick School is helping to create the next generation of American truck drivers.