Crude oil prices traded in a narrow range near $70/barrel for most of September then started rising quickly toward the end of the month. Prices closed the month at just over $73. The following graph shows the daily price movements over the past three months: For most of September, prices were relatively steady in the absence of any significant political
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:
If you are managing a large fleet then you have probably found that it is cost-effective to have a fuel storage tank on your property to handle some or all of your fueling needs.
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:
Moving away from oil is something being promoted in many areas. One of the debates is the use and production of alternative fuels. For fleet managers, the decision of whether to purchase alternative fuel vehicles means weighing up cost, reliability, and environmental concern. There are both advantages and disadvantages to alternative fuels, and some things fleet managers should consider:
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.
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