To put the chart above in perspective, 2014’s average diesel price was $3.86 per gallon, while 2015 came in at $2.74, an average savings of $1.14. For a truck that uses 3,000 gallon, for example, that’s a total savings of $3,370. For an average-sized fleet of 100 trucks, that’s a staggering $333,700 savings, and for very large fleets, it could be exponentially higher.
So why did this occur? There are a number of reasons, as outlined by Mike Spence, senior vice president of fleet services for Fleet Advantage.
“Efficiency from newer vehicles and newer engines has been holding supply and demand in check,” Spence explains. “Another reason would be increased competition with different sources of fuel, such as natural gas, which kept prices at a lower level than everyone expected them to be.”
Spence also points out that some of the changes simply come from price trends returning to normal.
“Historically, diesel fuel and gasoline have trended together. That kind of got out of sync over the past two or three years, but over the past few months they’ve gotten back on the same path.”
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