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Fuel Prices

Topics mentioned in today's video includes the recovery of the commercial fleet market; resurgence of COVID-19 uncertainty; fuel price trends; strong demand in the wholesale resale market; the reopening of in-lane auction bidding; and CARBs new mandate for zero-emissions trucks.

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Diesel Prices on the Slow Rise

National average diesel fuel prices hit $2.43 per gallon as of June 22. This represents a 3-cent rise from the previous week, but overall, prices are still down around 62 cents per gallon compared to same time last year. 

Diesel Prices Down Across U.S.

National U.S. average diesel prices are down $0.04 from the week prior and $0.61 from one year ago, hitting $2.51 per gallon as of April 13, 2020.

Gasoline Increases to $2.28 Per Gallon

The national average price of gasoline increased 2 cents to $2.28 per gallon during the week, which also saw at least a 10-cent increase in several states, according to AAA.

Fuel Prices Increase Fleet Operating Costs

Higher fuel pricing has been the No. 1 factor contributing to higher operating costs in calendar-year 2018. Since fuel makes up the largest portion of fleet operating costs, it has strongly contributed to the increase in total fleet spend.

Strategies to Reduce Fuel Spend

Companies are spec’ing selectors to take advantage of more fuel-efficient vehicle technologies, such as higher-speed transmissions, turbocharged smaller displacement drivetrains, and, when possible, downsizing to a smaller vehicle.

Highest Thanksgiving Day Travel Predicted in 12 Years

AAA Travel projects that 50.9 million Americans will travel 50 miles or more away from home this Thanksgiving holiday weekend, an increase of 1.6 million travelers compared with last year. Car rental rates will hit a five-year holiday high at $70 per day.

Stable Fuel Spend Keeps Lid on Overall Operating Costs

The stability of fuel pricing has been the No. 1 factor contributing to keeping operating costs flat in calendar-year 2017. Since fuel makes up the largest portion of fleet operating costs, it has helped keep a lid on overall fleet spend.