Motor fuel prices are an important cost component of highway transportation. Changes in motor fuel prices impact the behavior of both producers and consumers, and affect the demand for transportation in terms of level and modal mix.
In the United States, motor gasoline prices follow world crude oil prices more closely than motor diesel prices. Changes in motor fuel prices affect the profit margin of transportation firms, particularly trucking firms.
There are regional differences in motor fuel prices, as the following maps illustrate.
|Retail Gas Prices||1-Jul-02||8-Jul-02|
|Average all grades (dollars/gallon)||1.433||1.423|
|Percent change from previous week||0.56||-0.70|
SOURCE: U.S. Department of Energy, Energy Information Administration, Weekly Retail Gasoline Prices, as of July 8, 2002, available at: http://tonto.eia.doe.gov/oog/info/gdu/gasdiesel.asp
|Retail On-Highway Diesel Prices||1-Jul-02||8-Jul-02|
|Retail on-highway diesel prices (dollars/gallon)||1.289||1.294|
|Percent change from previous week||0.62||0.39|
SOURCE: U.S. Department of Energy, Energy Information Administration, Weekly On-Highway Diesel Prices, as of July 8, 2002, available at: http://tonto.eia.doe.gov/oog/info/gdu/gasdiesel.asp