Current prices are 81 cents less expensive than a year ago and will likely push lower as Americans remain isolated for the foreseeable future as a result of COVID-19.
The national average gasoline price dropped below $2 for the first time in four years, attributed to COVID-19 and the crude oil price war between Saudi Arabia and Russia.
There are three key reasons why the transition to synthetic oils is occurring. They are the proliferation of smaller displacement turbocharged engines, escalating CAFE fuel economy requirements, and government regulations to lower tailpipe emissions.
The national average for regular unleaded has increased 1 cent to $2.61, and most states saw their prices increase for the week ending Nov. 11, according to AAA.
The national average gasoline price slid 2 cents to $2.59 for the week ending Aug. 26 and is expected to be the cheapest Labor Day average in three years, according to AAA.
Fleet managers are constantly tasked with coming up with new ways to reduce costs. Two fleet industry professionals present multiple strategies to help facilitate that goal.
Fleets continue to use tried and true methods to curb fuel spend, but as technologies evolve and new trends arise, staying on top of new developments in the industry becomes essential as well.
The national average price of regular unleaded jumped 7 cents to $2.54 for the week, as a result of a recent trend that has been demand climb higher and supply fall, according to AAA.
The business mileage reimbursement rate for 2019 increased 3.5 cents to 58 cents on Jan. 1 after two years of minimal change, the Internal Revenue Service announced late last year.
While there never seems to be enough money to go around, one of the less talked about aspects of fleet management is the amount of budget dollars that are wasted every year.
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