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SEARCHNEW YORK -- The price of crude oil soared to a record high on Friday, June 6, rising $10.75 a barrel to reach $138.54. That's the biggest one-day surge ever.
NEW YORK -- The price of crude oil soared to a record high on Friday, June 6, rising $10.75 a barrel to reach $138.54. That's the biggest one-day surge ever.
According to the Los Angeles Times, the surge was sparked by a combination of factors: the European Central Bank said that interest rates may rise; that forecast pushed the value of the U.S. dollar down; an analyst said oil may reach $150 a barrel by July 4; and Israel warned it might take action against Iranian nuclear sites.
"Never before seen, unprecedented, amazing, epic ..." is how Denton Cenquegrana of the Oil Price Information Service described the one-day surge.
For fleet managers, all that means higher prices at the pump -- with no end in sight.
Fuel prices have risen in all 50 states, with the average increasing by almost 39 cents.
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National average jumps to $4.04 per gallon, up sharply from last year, with West Coast prices topping $5 and further increases expected amid rising oil tensions.
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Fleet leaders share practical strategies to reduce fuel spend through smarter policy, routing, and driver guidance.
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Fuel prices significantly slowed this week, but a $4 national average is still expected.
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With oil prices rising again, AWP Safety’s fleet manager shares how to respond to rising fuel costs and how the right strategy can turn fuel spikes into cost-saving opportunities.
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Rapid swings in crude oil prices driven by the conflict in the Middle East could create longer-term cost pressures for fleets, affecting fuel prices, supply chains, and vehicle strategy, says NTEA’s Andrew Wrobel.
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48% of field service leaders are investing in AI to manage customer communication and self-service. Get the latest on how fleets are using AI and thinking about the future.
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The final February fuel update reveals prices continuing to inch higher for the third week in a row.
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Fleet managers can use the DOE’s 2026 Fuel Economy Guide to benchmark MPG across powertrain types using side-by-side vehicle ratings and compare new model-year options.
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The national average for fuel prices has officially risen to its highest point since the summer.
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