Diesel prices wobble at their peak, and every cent counts
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Good morning, from our workspace to yours. 🗓
The national average price for diesel is hanging tight to that $5.50 average, but it is the third straight week it’s dropped… juuuuuuuust slightly. The month of May rounded off at an average of $5.54 per gallon, dropping 3.2 cents from the previous week, according to the Department of Energy’s Energy Information Administration. However, the good ol’ West Coast saw a hike of 5.3 cents, in comparison.
Check out today’s featured article from Overdrive Online for the regional prices of diesel and what can be expected over the coming weeks when you pull up to the pump. ☕️
Fast And Furious Luke GIF By The Fast Saga via GIPHY
Featured Article:
“Diesel fuel prices fell for the third straight week during the week ending May 30, according to the Department of Energy’s Energy Information Administration, though each fall has been slight and from unprecedented highs well above $5 per gallon.”
Water Cooler Topics
🗂 Top talent is being sought out in the digital realm, portraying a creative method of recruitment. A recent Pew Research Survey revealed data showing that the number of employees quitting their jobs reached a 20-year high at the end of 2021. What has been coined “Great Resignation” has offered many companies hope as they evolved to fit this new world. Repetitive manual processes can be eliminated through digital resources and combing through applicants can be handed over to an AI feature instead of a person with biases.
⛽️ A port diesel fee is already in full swing at places like the Port of Long Beach, but a larger fee is now being proposed. Long Beach currently charges $10 for every container entering the port that is not driven in on a “zero-emission” vehicle. Advocates of the proposal argue that a greater fee will further incentive local carriers to switch their fleets to “zero emissions” vehicles.
🛍 Retail is struggling to survive, but cloud technology can save them. Physical stores are facing the reality of our world today - we’re online. Customer service is imperative to keeping customers coming back and digital platforms that make it simple to buy and return items without fuss are shown to be most effective. Many big-name brands are rethinking the best ways to better serve their customers who have now become used to the conveniences of shopping purely online over the last several years.
New Mexico-Texas interstate designation introduces an exciting freight corridor
President Joe Biden unveiled the Ports-to-Plaints Corridor plan back on March 15, and the departments of transportation in both New Mexico and Texas have been excitedly eyeing its progress, hoping to extend several roadways in their states. The Ports-to-Plans project is intended to designate an entirely new roadway interstate, something that has been sought since 1998.
A new freight corridor is intended to create less congested options to facilitate trade between Canada, the U.S., and Mexico. A whopping $96 billion in exports is handled between corridor states like Texas and New Mexico.
An “ownership mentality” is provided by a private fleet
Private fleet owners often offer something so many large companies can’t to their customers: an ownership mentality. Standards for the industry fall on their shoulders, and turning to a private fleet might just guarantee the best service your money can buy.
Third-party operations often don’t have control of the fleet itself. Private fleets lend the idea that they are fully in control, offering a sense of security to their customers.
Electric Vehicles 🔋
5 Commercial-BEV Questions for Xos - Fuel Smarts - Trucking Info
“Electric-vehicle make XOs recently unveiled new medium- and heavy-duty battery-electric models, upping its game on the heavier side of its Class 5-8 market focus.”
Leadership 🏆
HDT Presents 2022 Top 20 Product Awards [Photos] - Products - Trucking Info - Page 1
“Nathalie Tessier, vice president and general manager, Alcoa Wheels, accepts the Top 20 award for its Dual-Valve Wheel from HDT Editor in Chief Deborah Lockridge.”
What a three-year expediter and the 2021 Small Fleet Champ share | Overdrive (overdriveonline.com)
“The question begged in the title here points us down the road to the subject of this Overdrive Radio podcast, a notion voiced quite well in last week's edition by Breon Thomas when he noted that entrepreneurship, broadly, is about creating systems of support for your efforts at success in business.”
Network Association 🤝
Logistics tech firm Freightos to join NASDAQ exchange through SPAC merger | DC Velocity
“Freight booking platform will raise $80 million in fresh backing for its service digitally connecting carriers, freight forwarders, and importers and exporters.”
Insurance ✍️
Enabling Assurance of Supply in the Global Marketplace (talkinglogistics.com)
“For a long time, companies had been redesigning their supply chain networks and practices to become more demand driven.”
Safety 🦺
Reincarnated Carrier Put out of Service as Imminent Hazard - Safety & Compliance - Trucking Info
“A Texas trucking fleet put out of service last month as an “imminent hazard” tried resurrecting itself under a different name — and was soon ordered to cease operating.”
Industry Forecast 📊
Supply Chain Relief Sparks Feud Over Degree of Softer U.S. Economy | SupplyChainBrain
“Some supply strains in the U.S. are easing, two years after a jump in demand started emptying shelves, snarling shipping and sowing the seeds of soaring inflation.”
When It Comes to Planning, Please Vote with Ike! – Supply Chain Shaman
“Good plans identify probabilities and feasibilities while driving team collaboration/visibility on an array of possible outcomes.”
Shortages 🛒
Baby-Formula Makers Tell Biden They Foresaw Dire Shortages | SupplyChainBrain
“President Joe Biden defended his administration’s response to a national baby formula shortage, saying he acted as soon he became aware of the crisis in April — even as manufacturers told him Wednesday they saw it coming months earlier.”
Human Resources 📝
Putting labor management systems (LMS) to work - Logistics Management (logisticsmgmt.com)
“With no end in sight to the labor shortage, companies are turning to labor-management system technology for help optimizing their current labor resources.”
Quote of the Day:
“Get big quietly, so you don’t tip off potential competitors.”
— Chris Dixon, an investor at Andreessen Horowitz
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