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February Short Term Fuel Price Forecast

February Short Term Fuel Price Forecast

Q2 Gas Prices Forecast to Spike at $2.72

Author: FleetLogik/Tuesday, February 6, 2018/Categories: FastFacts

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U.S. regular gasoline retail prices expected to average $2.62 per gallon (gal) in Q1 and $2.72 in Q2, up 4.5% from the US Energy Information Administration's previous forecast.  Diesel is forecast to average $3.00 per gallon before settling back to a full year average of $2.91 per gallon.  The Administration forecast for 2019 is $2.58 per gallon for gasoline and $2.87 for diesel.   

Fleet operators need to exercise diligence in their fuel management strategies.  Fuel still represents the largest variable cost element facing companies and reducing consumption always provides the greatest opportunity for savings.  It is not uncommon to find Good Driving behavior alone can reduce fuel consumption by 12%-18% on average. Proper maintenance and tire pressures can add another 6% to 10%.  

Now is a good time to evaluate your fleet management plans for 2018 with a focus on improving fuel economy.  Remember #slowdownsaves more than just fuel dollars. It also reduces accidents and saves lives.


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Number of views (986)/Comments (2)

2 comments on article "February Short Term Fuel Price Forecast"

Dan O

12/12/2017 11:56 AM

It is easy to get complacent when fuel prices are not shy rocketing. Agree on consumption focus. It takes time to move the needle.


9/28/2018 12:57 AM

Good to read

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