No pain like the fuel pain

Diesel: $5.07 (down 7 cents).

But, in March fuel prices were up 27%! Are brokers passing fuel surcharges (FSC) on fast enough? By their very nature, FSC is in arrears—so when prices rise fast, the carrier is playing catchup—add delays (e.g. from a broker) and carriers have a cash crunch.

Why is oil at $94/barrel today? Who knows? Maybe traders see a recession. Here are some news items:

• Germany on Friday suggested it could shut off oil imports from Russia before the end of the year.

• Ukraine urges the world’s major oil traders (Vitol, Trafigura, Glencore, etc.) to stop handling Russian crude

• Italy on Mon will sign a gas import deal with Algeria as the country scrambles to find alternative suppliers to Russia

A University of Arkansas study found that mandatory electronic logging devices on trucks haven’t reduced road accidents.

Future delivery prices are an indication of the direction the market may go. They specifically exclude all taxes.