Diesel pricing trends for the summer of 2023
Summer is an important time of year for many industries in Quebec, including agriculture and construction. Since the price of diesel plays a key role in determining operational overhead in these sectors, it’s essential to keep abreast of the current trends. In this article, we’ll examine the forecasts regarding diesel prices for the summer of 2023 and analyze the factors that could have an influence on these trends.
Forecasts for the summer of 2023
According to recent data from the Energy Information Administration (EIA) and other market sources, the price of diesel should increase moderately over the summer of 2023. This increase is primarily attributable to the worldwide economic recovery and the uptick in demand for energy. However, prices should remain below the historically elevated averages they’ve exhibited in recent years.
Factors influencing the price of diesel
Several different factors could affect the price of diesel during the summer of 2023. The following are some of the most notable ones:
a) Worldwide demand for energy : The global economic recovery has led to an upward trend in the demand for energy, which could push diesel prices higher. The increased demand for transporting merchandise and the intensification of industrial activity also contribute to this tendency.
b) Environmental policy : Environmental policy aimed at reducing greenhouse gas emissions can also influence the price of diesel. In Quebec, the implementation of the 2030 Plan for a Green Economy (PGE) intends to encourage the transition to cleaner sources of energy. These policies may result in higher taxes and costs associated with diesel fuel.
c) Fluctuations in the Canadian dollar : Fluctuations in the value of the Canadian dollar in relation to other currencies, particularly the US dollar, can also affect the price of diesel. A strong Canadian dollar can reduce the costs of importing diesel and, consequently, stabilize the price.
Tips for optimum use of diesel fuel
In the interests of maximizing the efficiency of diesel while also encouraging the adoption of alternative energy sources, here are a few measures you can take to improve your fuel consumption:
a) Preventive maintenance : One of the keys to maintaining the energy efficiency of your diesel equipment and vehicles is regular service and preventive maintenance. This includes checking the air filters, fuel filters and fuel injection systems. Preventive maintenance helps reduce diesel consumption and operating costs.
b) Use of additives : Specific diesel additives can improve combustion, lubrication and cleanliness in the fuel supply system. This translates into increased energy efficiency and lower emissions.
c) Driver and operator training : Training diesel equipment operators in good driving practices can help reduce fuel consumption and emissions. These practices include adopting energy-efficient driving techniques and anti-idling strategies.
d) Operational planning and optimization : Optimized transport schedules and careful work planning can reduce diesel consumption by minimizing unnecessary trips and maximizing the use of resources.
By encouraging the optimal use of diesel fuel, companies in Quebec can lessen the impact of diesel price fluctuations on their operating costs and help contribute to a future in which sustainable energy practices are a way of life.
Sources :
[1] Association paritaire pour la santé et la sécurité du travail du secteur de la construction (ASP Construction) : https://www.asp-construction.org/
[2] Government of Canada – Natural Resources Canada: https://natural-resources.canada.ca/energy-efficiency/energy-efficiency-for-industry/energy-management-industry/20397
[3] Energy Information Administration (EIA): https://www.eia.gov/
[4] Government of Quebec – Sustainable Mobility Policy 2030: https://www.transports.gouv.qc.ca/en/Documents/PMD.pdf
[5] Bank of Canada – Exchange rates: https://www.bankofcanada.ca/rates/exchange/