The Car and Truck Fleet and Leasing Management Magazine

Oil Prices Fall Below $69 a Barrel

May 17, 2006

NEW YORK --- Oil prices dropped below $69 a barrel on Wednesday. The fall came after government data indicated an increase in the domestic gasoline supply for the third straight week at a time of stagnant demand, the AP reported.The Energy Department's weekly report said domestic gasoline supplies grew by 1.3 million barrels last week to 206.4 million barrels.In addition, a monthly OPEC (Organization of Petroleum Exporting Countries) report reduced its demand forecast for 2006.Nonetheless, oil prices are still about 40 percent higher than a year ago. Contributing factors include worries over the West's standoff with Iran over its nuclear program, supply disruptions in Nigeria and the coming hurricane season in the Gulf of Mexico.
Twitter Facebook Google+


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.


Fleet Tracking And Telematics

Todd Ewing from Verizon Connect will answer your questions and challenges

View All


Fleet Management And Leasing

Jack Firriolo from Merchants will answer your questions and challenges

View All


Fuel Management

Bernie Kanavagh from WEX will answer your questions and challenges

View All


Sponsored by

Agreement whereby in a closed-end lease, usually a full maintenance one, as a strategic commitment to the concept of true partnering with the customer, the leasing company makes all components of the rental calculation known to the lessee.

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