The Car and Truck Fleet and Leasing Management Magazine

Winter Could See Fuel Prices Rise Again

December 01, 2005

WASHINGTON, D.C. --- Though gasoline prices have dropped dramatically over the past several weeks, crude oil pricing shifts could reverse that trend within a few weeks, according to the Energy Department.Gasoline prices may continue to fall a little more over the next week or two, but subsequent pricing will be influenced by the trend in crude oil prices, the department's Energy Information Administration (EIA) reported this week. U.S. commercial crude oil inventories are plentiful today, but that could change with the arrival of winter and ongoing refinery efforts to ramp up distillate fuel production for current needs and next year's peak driving season. Crude oil inventories could fall as refineries continue to increase throughput, unless imports average well above 10 million barrels per day, the EIA said. The Minerals Management Service reported that, as of Nov. 29, more than 564,000 barrels per day of offshore crude oil production remains shut-in. It may be months before the bulk of this shut-in production can come back on line. Some of the production reportedly is not coming back online until mid-2006. "EIA data for last week indicates that U.S. crude oil production averaged less than 4.8 million barrels per day, and it is likely to remain well below 5 million barrels per day for many weeks, if not months, to come," the EIA said.
Twitter Facebook Google+

Comments

Please note that comments may be moderated. 
Leave this field empty:
 
 

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

FleetFAQ

Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All

 

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All

 

Sponsored by

A direct response to the economic crisis, the Recovery Act has three immediate goals: to  create new jobs and save existing ones, to spur economic activity and invest in long-term growth, and to foster unprecedented levels of accountability and transparency in government spending

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.
 

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 

Up Next

More From The World's Largest Fleet Publisher