FIGURE G-13 Fuel Prices
FIGURE G-13 Fuel Prices
Retail Gasoline Prices
Weekly data, not seasonally adjusted
Jet Fuel Prices
Monthly data, not seasonally adjusted
Retail On-Highway Diesel Prices
Weekly data, not seasonally adjusted
Railroad Fuel Prices
Monthly data, not seasonally adjusted
NOTES: 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.
Jet fuel prices reported to the Bureau of Transportation Statistics differ from producer prices. Reports to BTS show the cost per gallon of fuel used by an airline during the month rather than the price charged by a producer on a single day. Fuel costs for scheduled airline services reflect contractual and storage advantages available to large buyers, while fuel costs for nonscheduled airline services reflect economic conditions for smaller buyers. Jet fuel prices also reflect seasonality due to both the seasonality of aviation and because jet fuel has similar refining requirements to heating oil.
The railroad fuel price, which include federal excise taxes, transportation, and handling expenses, represent the average monthly price for fuels purchased by freight railroads during each month.
SOURCES: Retail gasoline and on-highway diesel prices-U.S. Department of Energy, Energy Information Administration, available at http://eia.doe.gov/ as of Aug. 21, 2007. Jet Fuel prices - U.S. Department of Transportation, Research and Innovative Technology Administration, Bureau of Transportation Statistics, Office of Airline Information, August, 2007; available at: http://www.bts.gov/oai. Railroad Fuel prices - Association of American Railroads, Monthly Railroad Fuel Price Indexes, available at http://www.aar.org/ as of August 2007.