Domestic Market Updates –
Diesel update: The average price of diesel decreased 5.6 cents a gallon, putting the average price of diesel at $3.659 a gallon, according to the U.S. EIA.
Not surprisingly, the Gulf Coast, Midwest, and East Coast all saw double digit diesel pump prices during the week of January 20th, due to the strong winter conditions those regions faced, per the EIA.
Cross-Border Labor: Canadian National railway is preparing for a potential strike as the International Brotherhood of Electric Workers (IBEW) union rejected their offer. The earliest the strike would begin would be on January 28th.
However, per a statement from CN, they say any work stoppage will have “no impact on our operations. Contingency plans are in place, operations will continue, and our dedicated teams are prepared to ensure the seamless continuity of service.”
The current contract between the parties expired on December 31st, 2024. However, bargaining started back in September 2024.
Weather: Parts of Interstate 5 in California were temporarily closed yesterday due to mudslides and ice. Caltrans District 7 said for drivers to use US 101 as a north/south detour.
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