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BTS Indicators Report Shows Drop in Gasoline Prices
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Contact |
BTS 02-02 David Smallen
202-366-5568
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Tuesday, February 5, 2002 -- The U.S. Department of Transportation's Bureau of Transportation Statistics
(BTS) today released its monthly Transportation Indicators report showing
that consumer prices for all types of gasoline fell almost 6 percent between
November and December.
Dr. Ashish Sen, BTS Director, said, "Transportation Indicators helps us
monitor our transportation system and its impact on our economy. BTS will
continue to monitor the nation's transportation system through this monthly
report."
The BTS Transportation Indicators report is a monthly update of critical
transportation information that details the impact of transportation on the
nation's economy and society.
Transportation Indicators provides information on more than 100 trends in
the areas of safety, mobility, economic growth, the human and natural
environment, and national security. The monthly report, which is available
at www.bts.gov, provides information to address
specific transportation issues and to assist in the effort led by BTS to
make transportation information more accurate, reliable and timely. Updated
reports will be available on the BTS website at the end of every month.
The report also shows that employment in air transportation fell 2 percent
between November and December. Since August, 114,000 jobs have been lost in
air transportation. Previously, BTS reported that employment in air
transportation fell 3.6 percent in November, following a 2.8 percent decline
in October. There was also a 2 percent decline in aircraft and parts
manufacturing employment between November and December.
Other trends highlighted in this month's report are:
- Tonnage shipped in U.S. inland waterways was nearly 12 percent higher in
December than in December 2000.
- Producer prices for crude petroleum in December were 45 percent lower than
in December 2000, while producer prices for petroleum products were 36
percent lower. However, world crude oil prices have increased
recently-rising 2 percent in the first week of January and another 2 percent
the following week.
- Producer prices for highway and street construction declined nearly 4
percent from December 2000 to December 2001-their lowest level in almost 10
years.
- Profits of for-hire transportation industries (establishments providing
passenger and freight transportation and related services on a fee basis to
the general public or other business enterprises) declined 73 percent in the
third quarter of 2001, to less than one-quarter billion dollars (seasonally
adjusted).
- Manufacturers' new orders for transportation equipment declined 17 percent
between October and November, while total manufacturing new orders declined
just 3 percent.
- Production units of domestic light-truck assemblies rose 11 percent in
November and 4 percent in December. Production of medium and heavy truck
assemblies declined 11 percent in November, but increased 10 percent in
December. Production of domestic car assemblies increased 5 percent in
December.
Continual updating of information on trends will help in developing
forecasts for the future, both within the department and outside. The
monthly report will also help transportation decision-makers spot changes
that might require rapid action.
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