Fleet Owners Rejoice! Trucking’s Main Fuel Hits a Record Low

Posted by Kirra Stemmler | February 10, 2016 | blog

According to the Department of Energy’s Energy Information Administration (EIA), the United States average price of diesel fuel has fallen to its lowest price point in a decade, dropping 2.3 cents and coming in at $2.008 per gallon as of February 8th, 2016.

Although that change probably doesn’t seem significant to most of you, the last time that weekly diesel prices were this low was on February 14, 2005, when the national average was reported at $1.986 per gallon (before being adjusted for inflation.) After being adjusted for inflation, however, prices haven’t been this low in just under a decade and a half.

According to EIA data, average prices in the Gulf Coast, Midwest, Lower Atlantic, and Rocky Mountain regions come in well below $2.00 per gallon. At the lowest point, prices in the Gulf Coast region came in at $1.89 per gallon, due to the close proximity to the nation’s refinery infrastructure. As usual, prices were highest in California, at $2.36 per gallon. This is because California has higher taxes and strict environmental regulations.

To put this price drop into perspective, today’s prices are roughly 83 cents per gallon below this time last year, when prices had already fallen significantly. Less than two years ago, the nationwide price stood at $4.02 per gallon.

Even with the lower price of diesel, it’s still important to be strategic about fuel buying. A few options include issuing fuel cards to your drivers, publishing a report each month on which drivers spend the least on fuel, and buying in bulk. If you issue fuel cards, some fuel cards will batch fuel purchases and issue volume-based pricing after a certain period. Furthermore, if you publish how much each driver is spending, it will give incentive to the drivers to compete to be the most efficient.

Posted by skyekr | 27 November 2017
It’s not yet winter according to the calendar, but the weather outside says otherwise! Before that winter weather—and driving—gets any worse, make sure your vehicles are prepared for the cold…
7 LikesComments Off on 17 Ways to Winterize Your Vehicles for Safer Winter Driving
Oct 2017 services scared dog face ELD deadline looms
Posted by skyekr | 18 October 2017
It’s October, and you know what that means. Yes, Halloween, but possibly something even scarier: the final countdown to the Electronic Logging Device (ELD) mandate that goes into effect on…
22 LikesComments Off on The ELD Mandate Deadline Looms! Are You Ready?
nebula cloud sunrise motorway
Posted by skyekr | 18 September 2017
Earlier this month, big names in transportation spoke before the U.S. Senate, offering reassurances around driverless vehicles. The big takeaway? We will still need truck drivers, but change is coming.…
35 LikesComments Off on Will Driverless Trucks Leave Drivers Jobless?
Newsletter Subscription
Required fields
* = required field