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As oil prices surge amid Middle East conflict and a blocked Strait of Hormuz, fleets are feeling the squeeze in real time. In this guest column, Geotab's Neil Cawse argues electrification is no longer just about sustainability or ROI — it’s about insulating operations from what he calls a "volatility tax."
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There’s a certain déjà vu when tensions flare in the Middle East and diesel price spikes can give you panic attacks. What parallels are there between the current situation and the 1970s energy crisis?
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Prices jumped another 24 cents in a week, with California topping $7.50 and new data showing fleet fuel costs may already be at record levels.
Read More →With global oil flows disrupted, U.S. diesel prices have topped $5 across every region, climbing sharply in the past few weeks.
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Gasoline and diesel fuel prices have risen 30 cents a gallon on average since Israel attacked Iran in early June.
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Six ways to prepare your trucking fleet for whatever diesel fuel prices may bring this year.
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The national average retail price for a gallon of on-highway diesel fuel rose by nearly another nickel over the past week, with a nearly 17-cent surge in California.
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“This is a bit of an interlude in what is going to be a stormy, stormy path the rest of this year and into 2023 as well,” said Tom Kloza of OPIS.
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"Short-term gain, long-term pain," is what one analyst called the White House release of oil from the nation's Strategic Petroleum Reserves in an effort to bring down fuel prices.
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Oil and diesel prices, already spiking, may get worse with President Biden's move to cut off crude oil imports from Russian in the wake of the invasion of Ukraine.
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