Category: fuel cost

Fuel Flash – July 2018

Crude oil prices traded in a narrow range near $65/barrel for most of June leading up to the OPEC meeting on June 22nd. After the meeting, prices quickly rose by over 10% during the last week of June and closed the month at $74.25.  The following graph shows the daily price movements over the past three months:

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Fuel Flash – June 2018

Crude oil prices continued climbing throughout May and then lost momentum near the end of the month.  Despite the setback, prices are still roughly 40% higher compared to a year ago.  The following graph shows the daily price movements over the past three months:

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Fuel Flash – May 2018

Crude oil prices rose rapidly during April, gaining approximately 10% from where they started the month.  Prices are about 30% higher than a year ago and have now reached levels not seen since November 2014.  The following graph shows the daily price movements over the past three months:

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Fuel Flash – April 2018

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: 

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Pros and Cons of Alternative Fuel Vehicles

Moving away from oil is something being promoted in many areas. One of the debates is the use and production of alternative fuels. For fleet managers, the decision of whether to purchase alternative fuel vehicles means weighing up cost, reliability, and environmental concern. There are both advantages and disadvantages to alternative fuels, and some things fleet managers should consider:

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Fuel Flash – March 2018

During February 2018, crude oil prices went on a roller coaster ride following a similar track as the stock market.  Shortly after the start of the month, prices fell by approximately 10%.  Prices remained at that lower level for a brief period and then started to rise again.  By the end of February, prices netted to be about 10% lower than where they started the month.  The following graph shows the daily price movements over the past three months: 

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How Proper Vehicle Maintenance Improves Fuel Efficiency

Fuel costs are a major cost of doing business when operating a fleet of any size. Purchasing new vehicles can significantly reduce fuel cost, but can be prohibitive as a capital investment. Most fleet managers are unable to replace their entire fleet and may continue to operate older vehicles for some time. This means that proper maintenance to improve and maintain fuel efficiency is an important, and cost-effective, way of reducing overall costs. Here are a few things you can do

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Do You Qualify for a Fuel Tax Refund?

Throughout the year, Sokolis Group must update its records for all of the changes made to fuel taxes. It’s a tedious task to sift through the information scattered across the internet for each state. Even though there are web sites that consolidate fuel tax rates in one place, identifying potential exemptions takes more research than just glancing at summarized data. That usually means a visit to a state’s site and digging into their tax regulations.

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