During August, crude oil prices started the month near $70/barrel but fell toward $65 by the middle of the month. Prices began rising again during the last half of the month and closed near $70 again. The following graph shows the daily price movements over the past three months: The price decline during the first half of August was mainly
Crude oil prices opened July slightly over $74/barrel following a rapid increase after OPEC’s meeting near the end of June. Prices held steady near $74 for the first 10 days of July but fell back and traded near $70/barrel for the remainder of the month. The following graph shows the daily price movements over the past three months: The rapid
Crude oil prices traded in a narrow range near $65/barrel for most of June leading up to the OPEC meeting on June 22nd. After the meeting, prices quickly rose by over 10% during the last week of June and closed the month at $74.25. The following graph shows the daily price movements over the past three months:
Crude oil prices continued climbing throughout May and then lost momentum near the end of the month. Despite the setback, prices are still roughly 40% higher compared to a year ago. The following graph shows the daily price movements over the past three months:
Crude oil prices rose rapidly during April, gaining approximately 10% from where they started the month. Prices are about 30% higher than a year ago and have now reached levels not seen since November 2014. The following graph shows the daily price movements over the past three months:
During March 2018, crude oil prices traded in a narrow range for most of the month, then started to climb modestly toward the end of the month. By the end of March, prices gained about 6% from where they started the month. The following graph shows the daily price movements over the past three months:
If you use propane to power forklifts in your operations, or other alternative fuels in your fleet, there may be an opportunity to file a Federal excise tax claim for a credit or refund related to the fuel used during 2017.
During February 2018, crude oil prices went on a roller coaster ride following a similar track as the stock market. Shortly after the start of the month, prices fell by approximately 10%. Prices remained at that lower level for a brief period and then started to rise again. By the end of February, prices netted to be about 10% lower
Throughout the year, Sokolis must update its records for all of the changes made to fuel taxes. It’s a tedious task to sift through the information scattered across the internet for each state. Even though there are web sites that consolidate fuel tax rates in one place, identifying potential exemptions takes more research than just glancing at summarized data. That
Traditionally, state governments have funded road construction through taxes on fuel. As vehicles become more efficient, though, the income from fuel tax is affected, with long-term concerns that it might eventually become insufficient. An increase in electric cars – and the introduction of electric trucks (Tesla recently unveiled an electric semi-truck) is starting to cause revenues to drop. With more
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