BTS Indicators Report Shows Drop in Gasoline Prices

Contact BTS 02-02 David Smallen 202-366-5568

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.