Analysts Boost Ratings, Price Targets on Wex Inc.
Several research analysts have increased their ratings or price targets for fleet fuel card and payment provider Wex Inc. in recent months.
Several research analysts have increased their ratings or price targets for fleet fuel card and payment provider Wex Inc. in recent months.
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.
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.
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.
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.
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.
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.
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.
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.
Regular unleaded moved sharply higher to $2.69 per gallon for the week ending April 1, which is now 44 cents higher than it was on Jan. 1, according to AAA.
The national average for regular unleaded jumped 8 cents to $2.62 per gallon on March 25, as gasoline prices continue to move sharply higher to a level last seen in the middle of February.
The national average price of regular unleaded jumped 7 cents to $2.54 for the week, as a result of a recent trend that has been demand climb higher and supply fall, according to AAA.
Eaton has announced that it is contributing several components to truck manufacturers participating in the U.S. Department of Energy’s SuperTruck II freight-efficiency program.
A recent bill proposed by California State Senator Nancy Skinner (D-Berkeley) lays out an even more aggressive plan for emissions reduction in the state and puts the transportation sector squarely in its crosshairs.
FleetCor Technologies Inc.'s Comdata is offering an open-loop MasterCard to service fleets and other businesses that allows drivers to pay for fuel and other supplies, according to the company.
WEX Inc. moved its headquarters to the waterfront of Portland, Maine, in March, as the company entered a growth phase that has included three acquisitions this year.
View more photos
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
