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Fuel Costs

15 Predictions for the Fleet Market in CY-2022

When looking ahead to the next 12 months, it will become more expensive to operate a fleet in the coming years. Vehicle acquisition costs have increased due to reduced fleet incentives. Fuel prices will likely continue to trend upward, and maintenance costs will ratchet higher due to more companies adopting extended replacement schedules.

Gasoline Drops to $1.92

Current prices are 81 cents less expensive than a year ago and will likely push lower as Americans remain isolated for the foreseeable future as a result of COVID-19.

Gasoline Prices Hit Four-Year Low

The national average gasoline price dropped below $2 for the first time in four years, attributed to COVID-19 and the crude oil price war between Saudi Arabia and Russia.

Average Fuel Economy Reaches Record High

Average fuel economy for light-duty vehicles sold in the U.S. reached a record high, and carbon dioxide emissions have reached a record low for model-year 2018, according to the EPA.

Gasoline Edges Higher to $2.58

The national average gasoline price increased 4 cents to $2.58 as 2019 comes to a close, a spike attributed to unexpectedly higher road travel during the holidays, according to AAA.

Gas Prices Decline to $2.55 per Gallon

The national average price of gasoline fell 2 cents to $2.55 per gallon, which is 5 cents lower than a month ago due to declining demand, according to AAA.

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