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Diesel prices creeping back up

MISSISSAUGA, Ont. -- The price of diesel is on the rise again so be prepared, cautions the Ontario Trucking Associa...


MISSISSAUGA, Ont. — The price of diesel is on the rise again so be prepared, cautions the Ontario Trucking Association (OTA).

Yesterday, the association noted that the rack price of diesel in Toronto hit its highest level since early October. Pumps in the city were offering the fuel at more than 32.5 cents per litre.

That is a jump of 5 cents in the last three weeks, the OTA says.

Prices were hovering between 27 and 28 cents per litre for most of January and February.

A year ago this month however, one litre of diesel cost in the range of 36 to 37 cents.

“So, while rack prices are below where they were a year ago, the recent three-week march in prices is of concern,” the OTA says.

Carriers should keep their shippers informed, they advise.

The group is concerned that possible Organization of Petroleum Exporting Countries (OPEC) production cuts, along with fears of a possible U.S. military strike against Iraq, are helping to cause the increases.


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