How are we doing this week with Public Fuel Rates?
Retail fuel prices are steady this week. A little bit under compared to late April.
Here’s a quick look at average prices for regular gasoline and how they compare to recent periods:
San Diego County: About $4.80 per gallon (regular unleaded). That’s down a few cents from last week (around $4.84) and roughly 55–60 cents lower than this time last year.
California (statewide): Approximately $4.78 per gallon on average, virtually unchanged from last week’s level.California’s average is down significantly from a year ago (when it was about $5.43 per gallon).
United States (national): Around $3.16 per gallon nationally; essentially flat compared to a week ago ($3.16) and about 50¢ lower than a year ago.The national average has been trending downward or steady.
(Note: All prices above are for regular unleaded gasoline. Premium grades and diesel fuel cost more, though they have followed similar trends of being lower than year-ago levels.)
Why have fuel prices been steady and lower vs. a year ago?
Crude oil prices have been on the soft side. Oil has fallen to some of its lowest levels in the past few years, largely due to global economic worries and more supply vs demand.
Recent recession concerns and increased output from oil producers (OPEC and its partners) have pushed crude prices down. Cheaper crude oil means less expensive gasoline since crude is the main input for fuel.
Short Term Crystal Ball Research tells me that: More stability, fuel prices not dipping or not spiking. Good for business measuring fuel consumption.
However, we are going into Memorial Day weekend, and it will be a pretty sunny day, which means TRAVEL. Travel will generate demand and with demand, we might see some stations increasing fuel prices.
DM me?
If you’re running vehicles; whether it’s 2 service vans or 200 semis; there are better fuel options than just swiping at the pump with your credit card points.
We offer wholesale fuel programs that can help cut down your cost per gallon and streamline your fuel management.
DM us to learn how we can help your business save at the tank and make smarter fueling decisions.
Have a great week ahead.
Thank you,
Gracias,
Chris.
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