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WEX stated the national retail price for a gallon of gasoline started the month at $3.55 per gallon, which is down close to 10 cents per gallon from where the price started in April.
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WEX Inc. has named Melissa D. Smith as president and said she will assume the role of chief executive officer, and maintain her duties as president, on Jan. 1, 2014.
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Both retail and wholesale gasoline prices are dropping, according the monthly WEX Index. Diesel is also expected to decline due to weakening demand and the spring thaw.
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A new report from WEX says fears about summer gasoline supply caused the recent price increases and that gas prices should slowly fall throughout March. WEX also expects a drop in diesel prices, but not as much as for gasoline.
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Renzenberger is a transportation company that does crew transportation, primarily in the railroad industry, and tested WEX fuel cards for its fleet operation.
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According to the report, fuel consumption by construction companies in the U.S. was up 5.8% in January compared with the same month in 2012.
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According to the monthly WEX fuel report, retail gasoline prices have hit their highest levels since October and have begun an early surge compared to previous years.
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According to WEX Inc., while gas hit its lowest price per gallon for 2012 on Dec. 20, a slight jump closed the year at the highest national average ever.
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While gasoline prices continued to drop in the month of November, diesel prices have stagnated. WEX said diesel prices will likely trickle down just slightly over the next few weeks.
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