Wright Express Says Construction Industry Fuel Consumption Up 5.1% in May Over 2011
SOUTH PORTLAND, ME - Wright Express Corp. said its Construction Fuel Consumption Index (FCI) showed an increase of 5.1% in May when compared with the same period in 2011. This is also up over the April FCI, which was up 4.5% when compared with April 2011. The FCI measures national fuel consumption statistics for the construction industry.
Wright Express said that to create its index, it works with IHS to capture and analyze transaction data from its closed-loop network of more than 180,000 fuel and vehicle maintenance locations, including over 90% of the domestic retail fuel locations and 45,000 vehicle maintenance locations.
IHS linked this increase to lower inventory of new housing and rising new home sales (3.3%) in April, and said that estimates for new home sales for the previous three months were revised upward.