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On the back of significant gains in the futures market for ultra low sulfur diesel (ULSD), the benchmark used for most fuel surcharges rose Monday for the first time in 10 weeks. The weekly Department of Energy/Energy Information Administration average weekly retail diesel price climbed 7.7 cents a gallon to $3.735. That follows nine weeks…
To view more FreightWaves infographics, click here The post Daily Infographic: US gasoline prices are down from 2022 heading into Memorial Day weekendDaily Infographic: appeared first on FreightWaves.
Paccar Inc. will take a $600 million pretax charge — $446 million after taxes — against first-quarter earnings due to settlements related to a European price-fixing case in 2016. The Bellevue, Washington-based truck manufacturer in 2016 set aside $945 million related to the European Commission’s investigation of major European commercial vehicle manufacturers. It eventually…
On today’s episode of WHAT THE TRUCK?!? Dooner is talking to gCaptain’s John Konrad V about the escalating conflict in the Red Sea and how it is already impacting freight. FreightWaves market expert Donny Gilbert breaks down the trucking data driving rates. Capacity is leaving the market at an accelerated pace but is it helping…
Union Pacific has named former COO Jim Vena as its new CEO and promoted Beth Whited, its current sustainability and strategy EVP, to serve as the Class I railway’s president. The changes will become effective Aug. 14. UP (NYSE: UNP) on Wednesday morning also announced the appointment of two new members to its board of…
Transportation and logistics provider ArcBest beat fourth-quarter expectations on Tuesday. ArcBest (NASDAQ: ARCB) reported adjusted earnings per share of $2.47, 26 cents ahead of the consensus estimate and 5 cents higher year over year (y/y). The number excluded a few one-offs like costs from a freight handling pilot, acquisition-related items and settlement expenses from a…