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Despite fuel issues in the Northeast states, U.S. retail gasoline prices in October hit their lowest levels since July.
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The Department of Energy stated that Phillips 66 is estimating it could take two to three weeks before its refinery in Linden, N.J. can resume operations. As well, to help clean up and repair infrastructure in the Northeast, the Department of Transportation has released funding to several states.
Read More →According to the company, the new name reflects its transformation and growth strategies, which are focused on physical, digital and virtual corporate card payment solutions for businesses internationally.
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While gas prices continued to climb through August and are expected to continue to increase in the near term, Wright Express said that prices are expected to drop again by the Thanksgiving holiday.
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States in the Midwest, including Indiana, Michigan, Ohio and Illinois, have seen prices increase nearly 60 cents per gallon during the past 30 days.
Read More →SOUTH PORTLAND, ME – Wright Express (WEX) has released the latest results of its Construction Fuel Consumption Index (FCI), which found an increase of 0.8% in June, 2012, when compared to June 2011.
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Experts predict that some of the lower priced areas could see prices head north again, but not by any large amount. Some of the higher priced areas like the West Coast still have room to go down, and prices should continue to fall, albeit at a fairly slow rate before flat lining in the coming weeks.
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Despite this drop in the national average, refinery issues have continued to cause West Coast prices to remain at levels well above $4 per gallon. Experts say, however, that the issues have been resolved and prices should drop.
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Most experts predict that prices could get as low as $3.50 per gallon as it is typical for prices to fade by about 10% after the spring peak.
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Analysts see prices increasing in the next few weeks, possibly breaking the record set in July 2008 by the end of April, but don’t believe the rally will continue unless geopolitical events in oil-producing countries, or other events, cause a supply disruption of some kind.
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