Crude oil is expected to trade around $40-$45 per barrel in September. This is a result of increasing stockpiles of crude and refined fuels in the U.S. and around the world. According to GasBuddy, the inventory of U.S. crude oil in 2015 reached its highest level in 80 years. The increasing size of these stockpiles means great things for businesses across the country. People who have been taking full advantage of the recent low prices can look forward to continuing to pay less at the pump. Businesses, especially those that rely on fleets for their operations, have one less thing to worry about in the next few weeks.
According to Kiplinger, “the national average price of regular unleaded gasoline has slipped to $2.19 per gallon, down 3 cents from a week ago.” Other forecasts tell consumers that prices could drop to as low as $2.10 in the upcoming weeks. Furthermore, diesel consumers should also be in good spirits. The price of diesel is expected to drop to $2.30 and continue to drop through August. Unfortunately, this drop in diesel prices is not expected to last. GasBuddy forecasts that diesel prices will in fact dip over the next few weeks, but then will continue to rise for the remainder of 2016.
Dropping gas prices are a huge relief for businesses, but why rely on something so volatile? Fuel cards are a way to always save money and gain control. Find the right fuel card for your business here and start saving today.