Wright Express Construction Industry Fuel Consumption Index Shows Increase in June
SOUTH PORTLAND, ME – Wright Express (WEX) has released the latest results of its Construction Fuel Consumption Index (FCI), which found an increase of 0.8% in June, 2012, when compared to June 2011. The FCI details national fuel consumption by the construction industry and provides an economic indicator for construction activity in the U.S.
“The results of the June 2012 Fuel Consumption Index show a slow recovery for the construction industry,” said Rick Pomerleau, vice president, corporate development at Wright Express. “Despite the decrease from the previous month, the continued year-over-year gain in fuel consumption during the previous three months gives a more optimistic outlook for the remainder of the year.”
The June increase is down when compared with the increase in May, 2012, which showed a 5.1% increase that month when compared with May 2011.
According to WEX, the company with IHS to obtain and analyze transaction data from its closed loop network of more than 180,000 fuel and vehicle maintenance locations. This network includes more than 90% of domestic retail fuel locations and 45,000 vehicle maintenance locations.