Fuel prices have been increasing rapidly over the last several months. Just one event or change can cause prices to spike or plummet. Volatility will continue in the fuel market as much as it does in the stock market, which can keep whoever is managing your fleet’s fuel program up at night.
If you are managing a large fleet then you have probably found that it is cost-effective to have a fuel storage tank on your property to handle some or all of your fueling needs.
During March 2018, crude oil prices traded in a narrow range for most of the month, then started to climb modestly toward the end of the month. By the end of March, prices gained about 6% from where they started the month. The following graph shows the daily price movements over the past three months: