Oil Prices Climb to $68 a Barrel
NEW YORK --- Last Friday, concerns over U.S. gasoline supply levels prompted oil prices to reach their highest level since September -- $68 a barrel.
NEW YORK --- Last Friday, concerns over U.S. gasoline supply levels prompted oil prices to reach their highest level since September -- $68 a barrel. This came amid news that Valero Energy Corp. had to shut down a unit at its Corpus Christi, Texas, refinery, Bloomberg reported. American refineries have reduced operating rates the past three weeks. According to an Energy Department report, refineries operated at 89.2 percent of capacity in the week that ended June 8. That's the lowest utilization rate for that period in the past 15 years. Compared to the same week in 2006, the rate was down 1 percentage point. What's more, Nigerian militants have reportedly taken 24 workers hostage from an oil field operated by Eni SpA. Reuters reported that the Ogbainbiri flow station in Bayelesa state, which produces 40,000 barrels daily, was captured after a gunfight between militants and soldiers charged with guarding the facility.
More Fuel

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 →
April Fuel Update: Prices Climb Above $4 as Spring Surge Accelerates
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.
Read More →
Tips from Fleet Managers on Saving Fuel Costs
Fleet leaders share practical strategies to reduce fuel spend through smarter policy, routing, and driver guidance.
Read More →
March Fuel Update: Prices Settle With a $4 Average
Fuel prices significantly slowed this week, but a $4 national average is still expected.
Read More →