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Fuel Prices

National Diesel Prices Average $2.50

National average diesel fuel prices were $2.50 per gallon as of Nov. 30, 2020, according to the U.S. Energy Information Administration. This uptick is higher than prices in late June and late August and is reaching peaks not seen since mid April.

Low Demand Flattens Fuel Prices in 2020

The largest fleet operating expense is fuel, which traditionally represents approximately 60% of all operating costs. However, the decreased miles driven by fleets during the pandemic was the No. 1 factor contributing to keeping fuel costs flat in 2020. 

Forecast of Fuel Prices in 2021

The price of fuel is impacted by many variables making predictions difficult. However, there are certain variables that are in play today, which allows us to extrapolate and extend those trend lines into the next calendar-year and interpret possible outcomes.

Pandemic's Disruption Keeps 2020 Fleet Operating Costs Flat

The COVID-19 pandemic divided the fleet market into essential and non-essential businesses, causing hundreds of thousands of company vehicles to sit idle from mid-March to mid-May. The economic shutdown caused miles-driven to plummet.

Gas Prices Stabilize at $2.18

Gas prices are at $2.18, maintaining prices that have stabilized for the past few weeks and are currently the same prices as a month ago and are 41 cents cheaper than a year ago.

Gas Prices Level Out at $2.17

The national gas price average has pushed only as expensive as $2.20 since the beginning of the pandemic, AAA said. In the last four weeks, motorists have seen the national average slowly decrease, down to today’s average.

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