Apologies for the lack of an Oilcast last week. We have been really snowed under with work and formulating some different things we can do with Oilcast.
The Co-Operative Price Forecast Index (CDex) for last week was $67.37.
The actual average NYMEX price was $66.05.
The CDex for this week, October 3rd to 7th is $67.07.
BY ALEJANDRO BODIPO-MEMBA
FREE PRESS BUSINESS WRITER
Frank Milloca Jr. has had enough and he's throwing in the towel.
The 30-year-old independent truck driver has parked his truck and won't get back in it until diesel prices fall below $3 a gallon.
"I put $400 worth of fuel at $2.79 a gallon in my truck Thursday morning. By Friday, the price was $3.09," he said. "Diesel is so expensive that guys like me can't afford it anymore. Prices have to come below $2.50 a gallon before I even consider getting back in that truck. It's easier for me as an owner-operator to throw the towel in and go drive for someone."
That is the prevailing sentiment among many independent owner-operators who haul goods across the country. As energy prices skyrocket, more truckers are exiting the business because it's too expensive.
To fill up tanks that hold 230 gallons of diesel fuel on his truck today, Milloca would have to spend about $710. His 18-wheel rig he drives in the eastern part of the United States gets 5 miles per gallon.
"I was averaging about $1,800 a week for fuel before last week's spike," said Milloca, of Chesterfield Township. "In a moderate year, most guys will spend around $80,000 a year on fuel. But now, it's ridiculous."...
POSTED: 4:38 pm CDT October 7, 2005
UPDATED: 6:11 pm CDT October 7, 2005
HOUSTON -- Nearly 100 18-wheelers formed a convoy on a Houston freeway to protest rising diesel prices, KPRC Local 2 reported Friday.
Diesel is averaging $3.21 a gallon.
The truckers circled the 610 Loop in the fast lane at speeds of 20 to 30 mph Friday shortly before noon.
One truck driver told KPRC Local 2 that it cost $340 to fill his big rig's gas tank and said many colleagues are considering parking their rigs for good.
The truckers gathered for a rally on Mount Houston at Mesa in northeast Harris County after the convoy.
Many displayed protest signs. One read, "Fuel Cost + Low Haul Rates = Unemployment or Out Of Business."
The drivers said even though it was expensive to use diesel for their rolling protest, it was a sacrifice to make a point and bring attention to the problem.