The Car and Truck Fleet and Leasing Management Magazine

New Report Says Gas Prices to Rise Through April But Start Dropping in May

April 09, 2012

PORTLAND, ME – Wright Express’ latest WEX Index report shows gas prices still rising, with more than 25% of stations in the U.S. with prices over $4 per gallon. The national average price for gasoline at retail is $3.94 per gallon.

In addition to the highest prices, on a regional basis, going up, the low end for pricing is up as well, at $3.57 in Wyoming, compared with $3.12 in late February/early March. Wright Express stated that more than 6% of all stations are pricing gasoline at more than $4.25 per gallon. By comparison, last year only 1% of gas stations had prices at $4.25 per gallon.

Analysts see prices increasing in the next few weeks, possibly breaking the record set in July 2008 by the end of April, but don’t believe the rally will continue, unless geopolitical events in oil-producing countries, or other events, cause a supply disruption of some kind. Wright Express said analysts expect prices to start dropping by May. According to the company, past price drops during the spring months average about 16%. In addition, the U.S. Department of Energy said demand is off by 6% to 7%.  

Diesel prices have a lot further to go price-wise before breaking any price records (the record was $4.85 per gallon in 2008) with the current national average at $4.16.

One factor that will increase prices that Wright Express noted is county regulations requiring the use of reformulated gasoline, especially in the northeast. Refinery closures in that region are causing supply concerns, according to the company. 

Chart courtesy Wright Express.
Chart courtesy Wright Express.

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.

Sponsored by

The Department of Transportation was established by an act of Congress on October 15, 1966.

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