The Car and Truck Fleet and Leasing Management Magazine

Oil Price Surges to Record High of $138.54

June 08, 2008

NEW YORK -- The price of crude oil soared to a record high on Friday, June 6, rising $10.75 a barrel to reach $138.54. That's the biggest one-day surge ever.

According to the Los Angeles Times, the surge was sparked by a combination of factors: the European Central Bank said that interest rates may rise; that forecast pushed the value of the U.S. dollar down; an analyst said oil may reach $150 a barrel by July 4; and Israel warned it might take action against Iranian nuclear sites.

"Never before seen, unprecedented, amazing, epic ..." is how Denton Cenquegrana of the Oil Price Information Service described the one-day surge.

For fleet managers, all that means higher prices at the pump -- with no end in sight.


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 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

For more than 50 years, Merchants Fleet Management has been providing customized, total fleet management and leasing solutions for businesses and government agencies.

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