Crude oil prices tumbled by almost 13% during October. They peaked very early in the month at just over $76/barrel and proceeded to fall throughout the month to close at just over $65. The following graph shows the daily price movements over the past three months: The rapid decline of oil prices in October followed a rapid increase during the
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:
Fuel prices have been increasing rapidly over the last several months. Just one event or change can cause prices to spike or plummet. Volatility will continue in the fuel market as much as it does in the stock market, which can keep whoever is managing your fleet’s fuel program up at night.
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:
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