Diesel Fuel Prices Bottom Out

摘要

For some construction projects-such as public paving work-the cost of fuel and freight is often tied to a price index. So, a drop in petroleum prices of 50% or more is neither good news nor bad news for contractors. For others, the news is seen as a mixed blessing. Prices inched up in February, but they still remain far lower than last year's levels. If low fuel prices continue, some experts predict, they will create an economic stimulus that will give consumers more cash-and, eventually, more money to find its way into new construction. All this remains to be seen, though. Shale output has slowed, and after roughly 10 straight months of price declines, diesel fuel prices in February inched up 3.2% higher than January's but were still 41% lower than a year ago, according to the Producer Price Index. Diesel prices at the pump averaged $2.92 across the U.S. in mid-March, down 27% compared to a year ago, after falling to $2.83 in early February-its lowest since January 2010, according to the Energy Dept.