Fuel Prices to Slowly Decrease by Late July
At $3.65, gasoline prices in early July are the highest since 2008 when the price was close to $4.10, according to WEX Inc. But experts predict prices to slowly fade for the remainder of July.
This chart details the price trends for unleaded gasoline and diesel fuel at retail in the last two years. Chart courtesy of WEX Inc.
At $3.65, gasoline prices in early July are the highest since 2008 when the price was close to $4.10, according to WEX Inc. The good news is most experts predict prices to slowly fade for the remainder of July.
Iraq — which saw large swaths of its territory fall into the hands of radicals in June — spooked traders into pushing crude prices near $110 per barrel; however, market conditions were not as bad as they seemed, says WEX. While still volatile, the situation doesn’t appear as bleak as when the city of Mosul fell on June 20.
Crude prices have fallen closer to $100 per barrel and wholesale gasoline prices have seen drops, says WEX. Hurricane fears are still a few weeks away and are generally bullish for prices when they head toward the Gulf Coast.
While stronger in the summer, overall demand is still down from its peak in 2007 by roughly 6%, according to WEX. Market-watchers believe the national average could fall below $3.50 per gallon by the end of the month.
Meanwhile, diesel prices are around $3.90 per gallon. Experts believe prices will remain steady for the remainder of the summer and could see its usual seasonal hikes in September, says WEX.
This chart details the price trends for unleaded gasoline and diesel fuel at retail in the last two years. Chart courtesy of WEX Inc.
More Fuel
Turning Fleet Payment Data into Executive Insights
Ramel Lindsay of U.S. Bank Voyager discusses how fleets can transform payment and transaction data into actionable intelligence to reduce costs, improve oversight, and support executive decision-making.
Read More →
Why the IRS Raised Its Mileage Rate in the Middle of 2026
Fuel-price volatility drove the rare increase to 76 cents per mile, the fifth midyear adjustment since 2000.
Read More →
July Fuel Update: Prices Keep Rising in Light of More Conflict
Gas prices continue to rise as more and more conflicts do, too.
Read More →
Bob Adamsky on Fuel Volatility: "Don't Panic, Have a Plan."
When it comes to up and down fuel prices, Adamsky has a message for fleets: “Don’t panic.”
Read More →
How Fleets Can Gain Control of Non-Fuel Spend
Fuel often gets the spotlight, but non-fuel expenses can have a major impact on fleet costs. Ramel Lindsay of U.S. Bank Voyager discusses how fleets can gain better visibility and control over these often-overlooked expenditures.
Read More →
Fuel is Just the Start: How Middle East Tensions are Driving Up Fleet Maintenance Costs
The Middle East conflict is doing more than pushing up fuel prices. It’s also raising the cost of key maintenance products your fleet depends on, from motor oil to tires to windshield wipers. Here’s what you need to know about this budget-busting situation.
Read More →
June Fuel Update: Prices Fall Below $4
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.
Read More →
Study: How 2026's Gas Price Hikes Affect Different Vehicle Types
New data from iSeeCars reveals how rising fuel costs have affected different vehicle segments as gasoline prices climbed nearly 46% over the past four months.
Read More →
Are You Tracking Your Fleet's True Total Cost of Ownership?
Bobit Business Media surveyed 190 fleet professionals and found that while most fleets are tracking costs, fragmented systems and data gaps are keeping true TCO visibility out of reach. With rising pressure to control spend in an increasingly volatile environment, the gap between what fleets think they know and what the data actually shows is wider than you might expect. See how your peers are managing costs today and where the industry still has room to improve.
Read More →
May Fuel Update: All Regions Experience Declines
Gas prices are finally easing in much of the country, but experts warn global tensions could quickly reverse the trend as the national average remains well above last month’s levels.
Read More →