THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
The business mileage reimbursement rate for 2019 increased 3.5 cents to 58 cents on Jan. 1 after two years of minimal change, the Internal Revenue Service announced late last year.
The national average price of gasoline increased 2 cents to $2.28 per gallon during the week, which also saw at least a 10-cent increase in several states, according to AAA.
FleetCor Technologies reported $302 million in fourth-quarter net income earlier this month, which exceeded Wall Street expectations.
The national average price of a gallon of regular unleaded stayed at $2.26 per gallon for the week ending Feb. 4, even as most states saw slightly lower gasoline prices. Only eight states saw their gasoline prices increase during the week.
The national average price of a gallon of unleaded has begun to inch higher with a 1-cent increase to $2.26 during the week ending Jan. 28, according to AAA.
The national average price of regular unleaded gasoline remained steady at $2.25 per gallon for the week, and it's within 3 cents of the lowest price level since December 2016.
The national average gasoline price increased 1 cent to $2.25, and recorded the first weekly price increase since early October, when it sat at $2.91 per gallon, according to AAA.
The average price of a gallon of regular unleaded fell 3 cents to $2.24 on Jan. 7, and has reached its lowest level since February 2017, as falling oil demand continues to push prices lower.
The price of regular gasoline continued to decline over the holidays and reached an average of $2.266 per gallon for the week ending Dec. 31, which was 5.5 cents lower that the prior week, according to the U.S. Energy Information Administration.
The national price of gasoline has fallen to $2.37 per gallon, which is the lowest December level on record since 2016 and continues a price decline that began in early October. Gasoline prices have tumbled 54 cents from Oct. 9.
The average national price for regular unleaded fell 4 cents to $2.42 to reach a new low for 2018, as gasoline prices continued to follow oil prices to lower price levels for the week ending Dec. 10, according to AAA.
The price of regular unleaded gasoline has fallen to $2.46 per gallon, which has reached a low point for 2018 and is 2 cents lower than the price from a year ago, according to AAA.
Higher fuel pricing has been the No. 1 factor contributing to higher operating costs in calendar-year 2018. Since fuel makes up the largest portion of fleet operating costs, it has strongly contributed to the increase in total fleet spend.
Companies are spec’ing selectors to take advantage of more fuel-efficient vehicle technologies, such as higher-speed transmissions, turbocharged smaller displacement drivetrains, and, when possible, downsizing to a smaller vehicle.
WEX Inc. and Chevron U.S.A. Inc. have reached an agreement to bring card services to Chevron and Texaco business card fleet customers, WEX has announced.
