The good new diesel fuel prices fell 2.9 cents this week on a national average according to the Department of Energy. (DOE). The bad news of course is diesel fuel prices still remain much higher than seven weeks ago, now at $4.130 per gallon.
There is price news for each fleet manager out there and that is nationwide, refineries were operating at 85.1% of capacity. Which are a few percentage points higher than a few weeks ago? This week’s decrease was also the first for diesel fuel prices in seven weeks, so maybe this will help start a trend for your fleet management.
Interestingly, the current diesel price nationally priced is only 3.6 cents higher than at this time last year. Another sign of possible good news is West Texas Intermediate (WTI) crude oil settled at $90.68 per barrel on Friday, $2.45 below a week earlier. Usually, as crude oil prices go, diesel fuel prices and gas prices as soon to follow.
Speaking of gas prices it took 10 weeks but we finally had gas prices fall to $3.759 a gallon. A decrease of 2.5 cents from the prior week and certainly less swiping needed of your fleet fuel card then in prior weeks. Well not really but again, let’s look at it as a positive. March is coming in like a lion. Maybe these are the first steps in your fleet fueling costs to going down and March going out like a lamb for your fuel management.
Like, all other months or quarters, each company and fleet manager will ride the string of yo-yo for diesel fuel prices and gas prices. You can however take some control if you want over your cost. Hire a fuel department. 267-482-6155 or click here get a complimentary fuel audit. Our staff will review your prices, process and ways for possible improves.
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