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
Fuel costs are a major cost of doing business when operating a fleet of any size. Purchasing new vehicles can significantly reduce fuel cost, but can be prohibitive as a capital investment. Most fleet managers are unable to replace their entire fleet and may continue to operate older vehicles for some time. This means that proper maintenance to improve and maintain
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
As 2018 got underway, crude oil prices continued their rapid climb and gained almost 10% during January. Prices are approximately 25% higher compared to the start of last year and have reached levels that haven’t been seen in over three years. The following graph shows the daily price movements over the past three months:
Crude oil prices ended 2017 at just over $60/barrel; a level not seen since June 2015. December’s prices were relatively flat during the first half of the month followed by a gain of approximately 4% to end the month. Prices have now increased almost 28% from the start of September. The following graph shows the daily price movements over the
Crude oil prices gained another 6% during November and closed the month at just over $57/barrel. Prices briefly topped $59 near the end of the month and then receded slightly. Prices have now increased 21% from the start of September. The following graph shows the daily price movements over the past three months:
Crude oil prices posted a net gain of roughly 5% during October following an increase of approximately 10% back in September. Prices started the month at just under $52/barrel and closed the month at just over $54. The following graph shows the daily price movements over the past three months:
Crude oil prices increased by approximately 10% throughout September. They started at just over $47/barrel and closed the month near $52. The following graph shows the daily price movements over the past three months:
August’s crude oil prices traded in a narrow range between the mid- to high-$40’s/barrel. They opened the month just over $49 and closed the month just over $47. The following graph shows the daily price movements over the past three months:
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