AAA Daily Fuel Gauge Report for Friday, 10/01/21

Futures in New York tumbled as much as 1.7 percent before paring losses, as they head for the first weekly decline since mid-December. The Paris-based IEA said it sees “explosive”…

National Average Price for Regular Unleaded Current: $3.044; Month Ago: $2.885; Year Ago: $1.968. National Average Price for Diesel Current: $3.181; Month Ago: $3.078; Year Ago: $2.413.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 6.3% in October after gaining 5.7% in September. In October, the index equaled 106.8 (2015=100) compared with 114 in September. “While there are indications that the economy is losing momentum, I believe October’s tonnage softness was more of a seasonal issue during a pandemic than anything else,” said ATA Chief Economist Bob Costello. “Typical seasonality is off this year and it was a reason why October was down so much. Not seasonally adjusted tonnage was down a fraction as much as normal over the last five years during September, leading to a big seasonally adjusted gain. However, that means October’s not seasonally adjusted tonnage grew less than half as much as it typically does, leading to a big drop in the seasonally adjusted figure. There are plenty of carriers still saying that tonnage, retail tonnage in particular, is good.”