U.S. gas prices jumped nearly a 25 per gallon over the past two weeks as higher crude oil prices and refinery shutdowns drove prices upward, a nationwide survey reports.
It’s not even close to the summer driving season — in fact, it’s not even springtime — but as surely as February gives way to March, gas prices have begun their annual ascent.
Oil prices have jumped 10% over the last two months. The price of crude accounts for 68% of the cost of a gallon of gas, according to the Energy Information Administration. Other costs include refining (8%), marketing and distribution (11%), and taxes (13%).
Higher oil prices and refinery shutdowns have not only hurt fleet fueling prices on gas but diesel fuel prices continue to climb. Many wonder if these increases in diesel fuel and gas prices will it put a strain on the country’s economic turnaround.
Meanwhile, fuel card companies enjoy the extra revenue generated from higher transaction fees and very little fuel savings, in this high climbing fleet fuel market. With many companies still behind the eight ball with their fleet management, several try to put new plans in place to get a solid control of their fuel management.
Look toward each fleet manager and CFO to reach out for fuel manager services of a global reduction of their diesel fuel purchases, miles per gallon, reduction in truck idling to name a few fleet management solutions.
Need some help with fuel savings, call us today 267-482-6159 or click here for a free fuel audit.
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