2024-2025 Fuel Price Forecast - What Truckers Need to Know

The 2024-2025 Fuel Price Forecast from the Energy Information Administration (EIA), covering critical trends in fuel prices that will impact the trucking industry through 2024 and 2025. Expect higher oil prices as crude is projected to hit $87 per barrel by the end of 2024, driven by OPEC+ production cuts that will reduce global inventories into 2025. We’ll discuss how global fuel consumption is on the rise, with demand expected to grow significantly over the next two years.
U.S. oil production is also set to increase, providing some relief, but what does this mean for gas and diesel prices? While oil prices are climbing, gas prices are expected to stay lower than in 2023, giving consumers a break. However, diesel prices are projected to average $3.77 per gallon in Q3 2024, rising slightly to $3.79 by year-end, but remaining below $4 throughout 2025. We’ll also cover the outlook for natural gas prices, which will stay low in 2024 but could increase in 2025, and how jet fuel price hikes could affect the cost of air transport. Lastly, we’ll touch on electricity prices, which are expected to see only a slight 1% increase for residential customers, marking the lowest growth since 2020.
Stay informed and prepared with this comprehensive overview, essential for truckers, fleet managers, and everyone in the transportation industry.
#FuelPriceForecast #TruckingIndustry #DieselPrices2024
U.S. Energy Information Administration - www.eia.gov/
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[@MiguelAngel-tc6ht]

Solid numbers considering the state of the market. Hopefully capacity tightens soon

[@Turk-tf6vp]

What kind of success are you guys having dispatching NEW (less than 6mo) authorities?

[@godsok1]

When you give rates is that before or after your cut?

[@MiguelAngel-tc6ht]

Obviously before quickpay/dispatch cut. Truck gets about 90% of gross after these cuts

[@godsok1]

@@MiguelAngel-tc6ht so there not doing very good!

[@MiguelAngel-tc6ht]

@@godsok1 will they're definitely not getting rich atm

[@ismaelgarza9455]

Tough times for trucking company’s This has been the lowest average weeks I’ve seen so far Reefers and dry vans are in the gutter

[@AFTDispatch]

Yes, unfortunately vans and reefers have seen much better days. Flatbeds aren't fairing all that much better.

[@WRR689]

Do you think the cost will worsen before the election, and will it affect where loads are found for all companies large to small?

[@AFTDispatch]

My personal opinion is that fuel cost will be low through the year, barring any unforseen circumstances. Freight may become harder to find at decent prices. Just an opinion though.

[@TuneWorld57]

3700 miles a week lol

[@garysteinert8040]

Can someone tell me why truckers drive in the center lane of a three lane interstate? So amateur.

[@DD20248]

I do that sometimes.Left lane is for passing and the right is for exiting.Whats wrong with the center lane?