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Fuel

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. 

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.

State of the Fleet Industry: Fleet Trends in Maintenance, Replacement Tires & Fuel Costs

This video analyzes fleet sales and acquisition trends month over month; flat PM costs as some fleets base oil drain intervals solely on mileage; replacement tire expenses remain flat but increased interest in retreads as a result of cash conservation initiatives; and an uptick in unnecessary idling due to field workers using vehicles for social distancing.

Fuel Reaches $2 Average

The national average price for gasoline finally rose past the $2 average, reaching to $2.03.

Memorial Day Fuel Prices to Reach $2 Average

The national average price for gasoline rose three cents to $1.87 for the start of the Memorial Day work week but is still near lows not seen during the same period of time since 2003 where the average price for fuel was $1.50 on average.

Gasoline Prices Rise to $1.84

The national average price for gasoline continued to rise slightly, now up to $1.84, though approximately 40 states carry an average of price of $2 per gallon or less.

Gasoline Continues Drop $1.77

The national average gasoline price dropped to $1.77, and only one dozen states carry an average of $2 per gallon or more.

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