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Drivers are finally getting some relief at the pump. The national average gas price has dropped below $4 a gallon for the first time in months, with prices falling in 47 states as oil markets react to developments in U.S.-Iran negotiations.
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The national average gasoline price fell 3 cents to $2.86 for the week ending May 13, which represents the first significant decline since earlier this year, when a succession of price increases added about 60 cents to the per-gallon price.
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Several research analysts have increased their ratings or price targets for fleet fuel card and payment provider Wex Inc. in recent months.
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A gallon of regular unleaded inched higher for the week that ended on May 6 by increasing 1 cent to $2.89, and fleet drivers in the majority of states saw flat or lower prices at the pump.
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Wex Inc. reported revenue growth for the first quarter that beat projections from analysts and increased 8% to $381.9 million compared to a year earlier, the Portland, Maine-based fuel card and data provider announced.
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The national average price of a gallon of regular unleaded increased 4 cents for the week to $2.88, which marks a new high for 2019, according to AAA.
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Fleets continue to use tried and true methods to curb fuel spend, but as technologies evolve and new trends arise, staying on top of new developments in the industry becomes essential as well.
Read More →Regular unleaded increased 1 cent to $2.84 as the nation's gasoline prices plateaued after several months of increasing prices due to the shift to higher-cost summer-blend gasoline and more unplanned refinery maintenance, especially on the West Coast.
Read More →Pump prices increased 10 cents to $2.83 per gallon for the week with the West Coast taking the brunt of a nearly 20-cent increase as refinery maintenance is causing tighter gasoline supply, according to AAA.
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Fleet managers in three European countries will be able to feed fuel purchasing data into their Verizon Connect Reveal telematics platform under a new partnership between the telematics provider and UTA, a European fuel card provider.
Read More →Unleaded gasoline has steadily increased in the past month to $2.74 per gallon, which is 28 cents higher that it was in early March mostly due to an increase in refinery maintenance.
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