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Fuel Prices

Fleet Theft: Now They’re Puncturing Fuel Tanks

Record-high fuel prices are prompting a new type of fuel theft in which the perpetrators puncture fuel tanks. Fleet operators are not only out of gas; they face expensive repairs and extended downtime, too.

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.

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