Diesel Price Falls 4¢ to Five-Year Low $2.824
Diesel’s national average retail price fell for a third straight week, dropping 4 cents to a five-year-low $2.824 a gallon, the Department of Energy reported March 30.
Diesel’s pump price has declined 12 cents in three weeks, after rising 11.3 cents in five consecutive increases.
This week’s price is the lowest since trucking’s main fuel was $2.756 per gallon Feb. 15, 2010, according to DOE records.
The slide left diesel $1.151 below its level a year ago when it was near $4 a gallon, DOE said after its weekly survey of filling stations.
Gasoline, meanwhile, dipped almost a penny, dropping 0.9 cent to $2.448, the second decline in three weeks.
The decline left the motor fuel, which rose 0.4 cent last week, $1.131 less than its price a year ago, DOE said.
Oil, meanwhile, fell 19 cents to finish March 30 trading at $48.68 a barrel on the New York Mercantile Exchange, Bloomberg News reported.
Each week, DOE surveys about 400 diesel filling stations and 800 gasoline stations to compile national average prices.
By Michael G. Malloy
Port of Montreal to Spend C$75 Million on Enhancing Truck Access
The Montreal Port Authority said the Quebec government will invest C$75 million to improve truck access to the port as part of a C$1.5 billion investment in the area’s maritime industry.
The port said C$20 million will go toward the restoration of Alexandra Pier and the Iberville Passenger Terminal for cruise passengers.
“For a port, the flow of transportation is a measure of efficiency and competitiveness. That makes optimizing road access mission-critical,” Sylvie Vachon, president of the Montreal Port Authority, said in a statement.
“In this budget, the government is providing investments that will make it possible for trucks to exit more efficiently to the upper road network and decongest the local road network. Besides, any logistics activity that makes shipping lines need to come to the port to pick up or deliver containers is a win for us,” she said.
The government of Quebec included a provision of C$20 million in the 2015-2016 budget to restore the pier and passenger terminal, and Montreal committed to a C$15 million contribution.
“Having a new passenger terminal bolsters the development of the tourism industry and promotes major economic benefits and impacts for Montreal and the various levels of government, while giving citizens quality access to the river and creating an emblematic gateway worthy of Montreal,” Vachon said .