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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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SOUTH PORTLAND, ME - The FCI measures national fuel consumption statistics for the construction industry. The April FCI was also up 4.5% over the same period in 2011.
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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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According to the latest report from Wright Express, gas prices could break 2008 records this summer.
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SOUTH PORTLAND, ME and WASHINGTON - New reports from Wright Express and the U.S. Energy Information Administration say gas prices are likely to fall between $3.50 and $3.75 in early spring.
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In partnership with Wright Express, the Networkfleet Fuel Card tracks precise information on all fuel purchases and includes monthly and year-to-date reporting.
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Check out these three tools that can help you with route and fuel management, from an integrated small business card to routing software.
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SOUTH PORTLAND, ME - Though oil prices have spiked, gas prices remain steady but will see the usual springtime rise by late February.
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