As the end of the year approaches, gasoline prices are on a steady decline with the national average at $3.25 per gallon. Meanwhile, diesel prices are expected to move higher toward $4 per gallon.
by Staff
December 5, 2013
This chart details the price trends for unleaded gasoline and diesel fuel at retail in the last year. Chart courtesy of WEX Inc.
2 min to read
As the end of the year approaches, gasoline prices are on a steady decline once again. The national average hit $3.25 per gallon — the lowest it has been in almost two weeks and 14 cents per gallon lower than a year ago, according to WEX Inc.'s November fuel prices report.
Three states (Oklahoma, Missouri and Kansas) have dipped below $3 per gallon. And some states (Montana, New Mexico, Nebraska and Utah) have unleaded gasoline averages under $3.05 per gallon, says WEX.
Ad Loading...
The lower prices have seemingly affected demand, as it is currently on a slight rise which is unusual for this time of year. Despite this — and perhaps because North American crude oil has slid to $15-$50 per barrel below the global crude price — fleet managers can expect accelerated decreases at the pump over the next couple of days, says WEX.
In addition, the continuous decline of ethanol costs — which can make up 10% of the gasoline blend — contributes to the lower fuel prices.
Currently, 10% of the nation’s stations report prices under $3 per gallon, compared to just 1% this time last year — and the percentage is projected to grow larger through December, says WEX. The region least likely to see these low prices will be the Eastern Seaboard, primarily the Northeast. However, the Rocky Mountains and the northern Midwest can expect the biggest drop.
Meanwhile, diesel is expected to move higher toward $4 per gallon between now and the new year. The colder months drive up the prices because diesel fuel is being used for heating, says WEX.
This chart details the price trends for unleaded gasoline and diesel fuel at retail in the last year. Chart courtesy of WEX Inc.
AI-powered inspections are transforming last-mile fleets by replacing manual checks with highly accurate automated scans that detect defects in seconds. By giving fleet operations visibility into the daily condition of their vehicles, you can identify trends over the vehicle’s lifecycle that enable improved procurement decisions, route management, driver training and accountability.
Still managing your motor pool with spreadsheets and manual approvals? Loyola University replaced outdated processes with automated fleet management, eliminating overtime and saving up to $50,000 annually. See how they did it.
48% of field service leaders are investing in AI to manage customer communication and self-service. Get the latest on how fleets are using AI and thinking about the future.
This video features a reminder from the Connecticut Department of Transportation (DOT) and the Connecticut Police Chiefs Association, urging drivers to prioritize safety this Halloween.