Diesel fuel prices took its biggest decline in two months, falling 4.6 cents to $3.964 a gallon, a week after it had topped $4 for the first time in six months, the Department of Energy said Monday.
Gas price, meanwhile, fell by even more, dropping 6.1 cents to $3.307 a gallon in its fifth decline in six weeks.
The diesel fuel prices downturn was the biggest since a 4.7-cent drop Sept. 26 and left trucks fleet fueling 80.2 cents over the same week last year. Gas prices are now 45.1 cents higher than a year ago.
Diesel fuel prices topped $4.00 a gallon last week. There is a good chance as export levels of diesel fuel continue to increase that $4.00 diesel fuel prices could become the norm.
With the 24.3 cent per gallon on diesel fuel prices in 5 of the last 7 weeks, we can see how the export levels can be putting a charge in fleet fueling prices.
Oil prices declined into the mid-$90s per-barrel last week following a $100-plus closing price on Nov. 16, according to Bloomberg figures. Even though crude oil prices have gone up, it hasn’t lead to a gas price increase on companies fuel cards because gas is not in as much demand as diesel fuel.
Crude futures rose $1.44 on the New York Mercantile Exchange on Monday, finishing the trading day at $98.21 a barrel, Bloomberg reported. It will be interesting to see what effects Europe continues to have on fleet management and possible fuel savings. For a fleet manager his fleet fueling budget is based on a lot of guess work and hopefully a fuel management company that can help guide a path. Even for fuel management it crazy times, it’s difficult to predict crazy things. What you need to good solid blocking and tackling for fuel savings. A broad review of current processes with the ability to have someone or a team of fuel management experts review, implement and audit. 267-482-6159
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