April 21, 2008
NEW YORK --- Retail gas prices reached another new milestone Monday, April 21, averaging $3.50 a gallon, according to AAA and the Oil Price Information Service.
Tags: gasoline prices, oil prices, OPEC
February 19, 2008
NEW YORK --- The price of crude oil for March delivery rose to $100.01 a barrel in New York, buoyed by expectations that OPEC will opt to cut production when it meets March 5.
Tags: oil price, OPEC
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By Mike Antich Fuel prices hit record highs. The cost of financing a fleet doubles. Used-vehicle values plummet. Dealers are unable to sell the vehicles they have in inventory. Geopolitically, the U.S. is embroiled in war and the macro-economy teeters on recession. If you think I'm talking about 2008, think again. The year was 1973.
By Mike Antich October was an extremely difficult month to remarket vehicles in the wholesale market as resale prices took a precipitous drop. Wholesale pricing, based on mixed mileage and seasonally adjusted, declined a record 6 percent in October. The lack of credit to both dealers and retail buyers has been the key catalyst contributing to the downturn in the wholesale market. The market forecast is gloomy until the credit gridlock is resolved.
By Mike Antich
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In This Issue: How Fleets Tackle Rising Fuel Costs, 15 Ways to Save Fuel, 2008 Fleet Manager of the Year Nominees Narrow to 3 and much more…