Category: Fleet Management News

• July 21st, 2011
• Jackson Parker

Gas Prices Up 5 Cents in Last 30 Days, Good and Bad News for California Gas Prices

Gas prices are currently on a slightly upward trend. The average price for a gallon of regular unleaded gas is currently $3.68, up 5 cents since 30 days ago, and 3 cents since one week ago, according to the AAA Fuel Gauge Report. The reasons gas is slowly creeping back up after a two-month decline include: the faltering Greek economy, a weaker US dollar, unrest in Libya, increasing demand for gas and limited production from refineries.

Gas prices in California have remained unusually low, when compared to other states in the US. Typically California has the highest gas prices in the continental US, but several other states currently have higher prices such as Connecticut, Washington, New York and Washington D.C. The average price in California is $3.782 today, a 2 cent increase since last week.

For Californians there is good and bad news, gas still costs 14.4 cents less than it did a month ago, according to AAA’s Daily Fuel Gauge Report. However, it’s still 67.3 cents more expensive than it was a year ago.

• July 20th, 2011
• Jackson Parker

The current national retail average price for a gallon of self-serve regular gasoline is $3.67. Today’s average price is 4 cents more than the price one week ago, and two cents more than one month ago. Currently three states have an average retail price for regular unleaded of more than $4 per gallon – Hawaii, Alaska and Connecticut.

Oil reversed direction for the fourth straight trading day on Tuesday and climbed about 2 percent, as traders faced uncertainty about the direction of the economy and a weaker dollar.

Crude oil is used to produce gasoline and other fuels, and it’s also a major investment commodity. Prices can swing with the collective mood on Wall Street. Recently benchmark oil has fluctuated between $95 and $99 a barrel as investors gauge how Europe deals with Greece’s debt crisis and the debate goes on in Washington over spending and the U.S. debt ceiling.

• July 19th, 2011
• Jackson Parker

Gas prices have continued to rise during the month of July. This week, a gallon of regular unleaded is averaging $3.67 per gallon, according to the AAA Fuel Gauge Report. This price is 4 cents higher than one week ago, one cent higher than a month ago, and 95 cents higher than one year ago. One week ago, gas was averaging $3.63 a gallon.

Gas prices have been rising across the entire US, according to AAA. In Florida the average price of $3.66 per gallon is a 6 cent increase from last week. Gas prices in Rhode Island are on the rise, up seven cents from last week, averaging $3.82 per gallon. Massachusetts gas prices are up for the second consecutive week. Regular gas jumped a nickel in the past week to an average of $3.71 per gallon.

• July 18th, 2011
• Jackson Parker

Gas prices are currently averaging $3.66 for a gallon of regular unleaded, according to the AAA Fuel Gauge Report. This is a 7 cent increase from this time last week. The Fuel Gauge Report uses retail receipts from more than 100,000 service stations across the United States, compiled by the Oil Price Information Service and by Wright Express.

Since the July 4 weekend, US drivers have been paying more at the pump. The states with the most expensive gasoline today are:
* Alaska – $4.09
* Hawaii – $4.04
* Connecticut – $3.98

• July 13th, 2011
• Jackson Parker

Gasoline prices are rising again even though drivers in the U.S. have bought less gas for four months in a row. Gasoline is getting more expensive even though motorists continue to cut back. MasterCard SpendingPulse said Tuesday that gasoline consumption has dropped for 16 weeks in a row. SpendingPulse, which tracks credit card payments around the country, said the four-week average for gasoline demand fell by 1.1 percent last week compared to a year ago.

Demand even dropped over the July 4 weekend, usually a time for lots of road trips. MasterCard analyst Jason Gamel said motorists used 1.7 percent less this year than they did during last year’s holiday weekend.

Oil, which is used to make gasoline, is higher as well. On Tuesday. Benchmark West Texas Intermediate crude for August delivery gained $2.28, or 2.4 percent, to settle at $97.43 per barrel on the New York Mercantile Exchange. Brent crude, used to price many international oil varieties, rose 51 cents to settle at $117.75 per barrel on the ICE Futures exchange in London.

• July 11th, 2011
• Aurielle Destiche

Weeks of declining gas prices have come to an end. Gas prices are on the rise gain, slowly but surely.

A gallon of regular unleaded gasoline is currently $3.63, up seven cents from one week ago. Gas prices are up 92 cents from one year ago, according to the AAA Fuel Gauge Report.

Rising oil prices over the last few weeks are the main reason for this month’s increase in gasoline prices. Oil prices are fluctuating day to day, but seem to be on an upward climb week by week.

• July 11th, 2011
• Aurielle Destiche

Just when businesses and consumers thought they were in the clear – oil and gas prices have started to rise again. Gas prices certainly have come down in recent weeks, but they aren’t as low as last summer.

Two weeks after the U.S. and other 27 allies announced they were tapping domestic oil reserves (which temporarily knocked down the price of oil to almost $90 a barrel) oil is back around $100. And gas prices, which have been declining since May, are up over 4 cents since one week ago.

Oil is rising again as investors bet that the economies of many countries, including the U.S., will improve in the second half of the year, and global demand for petroleum will rise. While most experts agree that the world has plenty of oil, there are concerns that supplies could get tight as demand rises.

• July 2nd, 2011
• Aurielle Destiche

Gas prices are affecting people’s travel plans for this 4th of July holiday weekend. Five out of every six travelers will make their trips by automobile, according to AAA.

Fewer Americans will travel during the Independence day weekend, consistently one of the heaviest travel periods of the year. AAA said it expects fewer travelers to travel, as high gas prices are putting the squeeze on lower-income households. Although gas prices have been decreasing recently, they are still about $1 dollar higher than they were last year.

Between Thursday June 30 and Monday July 4, 39 million people will travel 50 miles or more from home, according to AAA Independence Day forecast. That is a 2.5 percent decrease from last year.

• June 27th, 2011
• Jackson Parker

Gas prices are expected to drop at least 10 – 15 cents in the upcoming weeks, and may drop by 40 – 50 cents a gallon after Labor Day.

Oil prices tanked last week because the US and 27 other members of the International Energy Administration (IEA) agreed to release 60 million barrels of oil reserves into the global market over the next 30 days. Many Americans are hoping that a reduction in gas prices will boost the economy.

The recent increases in gas prices are a big contributor to Americans’ lack of confidence in the U.S. economy. In a recent Wall Street Journal/NBC News poll, 45% of those surveyed said the recent increase in gas prices has affected them “a great deal,” outranking concerns over food prices, the drop in home prices or even the unemployment rate.

• June 24th, 2011
• Jackson Parker

Oil prices sharply declined to their lowest level in four months after the United States and 27 allies announced that they are planning to release 60 million barrels of crude oil from reserves. Increasing the nation’s oil supply could lower gas prices as much as 50 cents a gallon, but relief at the pump is still several weeks away.

The purpose of tapping the oil reserves is to boost the global economy. The US is hoping to avoid another recession, as recent sky-high oil and gas prices have been contributing to the slow economy.

Gas prices have skyrocketed in recent months, surpassing the $4-a-gallon mark in May. Though gas prices have decreased since their recent peak, today’s national average price for regular unleaded is still over $3.61 a gallon, which is more than 87 cents above gas prices one year ago, according to the AAA Fuel gauge Report.