Report Says Gas Prices Could Drop Up to 50 Cents Per Gallon by Thanksgiving
PORTLAND, ME - Wright Express (WEX) has released the latest edition of its fuel prices index. The company said analysts are predicting a substantial drop in gasoline prices in the near future but not for diesel.
by Staff
September 10, 2012
Wright Express' fuel prices index, which shows price trends for the last two years.
1 min to read
PORTLAND, ME – Wright Express (WEX) has released the latest edition of its fuel prices index, noting that retail gasoline prices surged in August to an average of $3.83, which is the highest level since the end of April.
The price of gasoline increased 30 cents between the beginning and end of August. WEX cited the same reasons for the rise in prices as others have recently, including several refinery issues and Hurricane Isaac, along with the use of summer spec gasoline during the driving season.
Ad Loading...
For fleet managers concerned about how far prices will really drop, WEX said the drop could be substantial. The switch to the less-expensive type of is set for Sept. 15, WEX stated. The company said some analysts are forecasting a major drop in prices, up to 50 cents per gallon, by Thanksgiving (barring unforeseen supply disruptions).
Diesel prices are back above $4.00 per gallon, on the other hand, and WEX stated that industry analysts expect prices to go even higher in the near future due to supply constraints.
The chart below shows gasoline and diesel price trends.
Wright Express' fuel prices index, which shows price trends for the last two years.
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.
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.
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.
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.
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.
