Category: Fleet Management News

• 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.

• June 3rd, 2011
• Aurielle Destiche

Gas prices have continued to decrease this week. Many experts are expecting prices to continue fluctuating with an overall downward trend.

Drivers and businesses affected by gas prices have been pleasantly surprised because gas prices typically rise during the month of May. The current peak national average price for this year was $3.98 on May 5th, 2011.

In mid-May, Neil Gamson, an analyst for the Energy Information Administration, said “It is possible we have reached our peak.” However, that could change if the violence in the Middle East gets worse or if there is a bad hurricane season.

Currently the average price for a gallon of regular unleaded is $3.78, down 3 cents from last week and 18 cents from one month ago according to the AAA Fuel Gauge Report. Although this month’s decreases are good news, prices are still up over $1.00 from one year ago. Diesel fuel is currently averaging $4.00 per gallon, down 16 cents from one month ago.

• May 31st, 2011
• Jackson Parker

Gas prices are currently averaging $3.78 per gallon of regular unleaded fuel in the US, according to the AAA Fuel Gauge Report. One week ago, gasoline prices were averaging 4 cents more than today at $3.82 a gallon.

Gas prices in Los Angeles County continued to decline over the Memorial Day weekend, decreasing a half-cent Monday to $4.06 per gallon. The average price, which has fallen nearly 23 cents since the streak of decreases began May 7, is 7.2 cents less than it was last week and nearly 20 cents lower than it was last month; however, it’s still $1.042 higher than it was last year at this time, according to the AAA and Oil Price Information Service. Before the 24-day streak of decreases, the average price rose 43 times in 45 days.

Most analysts are saying that the recent decreases in gas prices are due to two reasons. First, gas prices are tied to oil prices which have been declining over the past several weeks. A barrel of benchmark West Texas Intermediate crude on the New York Mercantile Exchange has fallen 11.7 percent to $100.59 from its two-year high of $113.93 on April 29.

• May 27th, 2011
• Aurielle Destiche

For many businesses, this year’s increases in gas prices are taking its toll on profitability. Corporate giants such as Walmart all the way down to family owned flower shops are dealing with the consequences of $4 a gallon gasoline.

Today’s high gas prices are also especially hard for those who rely on commercial vehicles as a large part of their business. For these companies, even a small increase in gas costs can be detrimental. Many are absorbing the costs and carrying on business as usual, hoping that the reports saying gas prices will drop again this summer are true. Other companies have been forced to raise prices.

Companies that rely on house calls or deliveries have been affected more than most. Pizza delivery, flower delivery, plumbers, HVAC – anything you can think of that has to be there in person to complete a transaction.

• May 26th, 2011
• Aurielle Destiche

Recent increases in gas prices over the past 6 – 12 months are taking its toll on the fleet management industry. According to a recent survey conducted by GE Capital Fleet Services, 29% of respondents said the recent surge in fuel prices is their number one concern, up 12 percent from one year ago. The other two major concerns for fleet management was driver safety and cost savings.

Concern for driver safety increased in 2011 to 28 percent from 21 percent in 2010, while cost savings fell as a priority but remained important at 23 percent, down from 36 percent in 2010. cost savings are now a bigger focus for executive management according to fleet managers. Sixty-four percent of those surveyed indicated that executive management’s main focus for fleets is cost savings, up from 48 percent in 2010.

• May 23rd, 2011
• Jackson Parker

For the thousands of drivers getting ready to hit the road for the upcoming Memorial weekend holiday, there is finally good news about gas prices. The current average price for a gallon of unleaded regular gas in the US is currently $3.85, eleven cents less than one week ago. Prices are only one cent higher than they were averaging a month ago, according to the AAA Fuel Gauge Report.

Diesel fuel prices are also on the decline. Diesel fuel is currently averaging $4.06 a gallon, seven cents less than one month ago. The decrease in diesel fuel prices effects the whole economy because prices of items people consume everyday from food to toilet paper are affected by gas prices.

• May 16th, 2011
• Jackson Parker

After months of consecutive price increases, gas prices have finally decreased — slightly. The national average price for a gallon of regular, unleaded gas is currently $3.955 per gallon on Monday, down from Sunday’s price of $3.961, according to the AAA Fuel Gauge Report. Many experts say the $4 per gallon mark is a tipping point, a price likely to dissuade consumers from driving, lowering demand and keeping pressure on gasoline prices.

The average price of regular gas in the Los Angeles area is currently $4.268 per gallon — 2.1 cents lower than last week, eight cents higher than last month, and $1.13 higher than last year.

Today’s drop in gas prices follows a week where crude oil prices tumbled. Oil prices continued to decline on Monday, dropping under $99 per barrel on the New York Mercantile Exchange.