The cost of diesel fuel in this area is up 15 percent from the same period in 2010 and 37 percent from 2009.
In 2008, diesel fuel cost on average was $3.94 per gallon; and in June of that year, it hit $4.72 per gallon. Some fear fuel prices are headed toward the $4 mark.
The cold weather, high oil prices and increased demand for diesel because of higher freight volumes all have put upward pressure on diesel prices, said Bob Costello, chief economist with the American Trucking Associations.
School districts, cities and companies often try to hold down fuel costs with multiyear contracts with suppliers, which protect them from market fluctuations. Even with nearly 40 percent of its projected fuel need for 2011 locked in at $2.63 per gallon, the Greater Dayton RTA expects to spend $5.2 million this year on diesel, $1 million more than last year, said Frank Ecklar, director of planning and marketing. RTA vehicles travel about 20,000 miles each weekday, carrying about 30,000 passengers.
“We have seen an increase ... based on prices that were hovering in the $2.25 range,” he said.
Trucking companies also are feeling the pinch at the pump, and they have such slim profit margins that they usually must pass on higher costs of fuel to clients, who pass them on to consumers, Costello said.
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