Oil Prices Dropping Just a Little Bit

LCT Magazine
Posted on August 8, 2008

The price of oil has been coming down lately, as have the prices at gas stations. "Oil has lost more than $28 a barrel since reaching the record less than a month ago as unprecedented fuel costs prompted U.S. consumers to limit spending," according to an article in Bloomberg.com. How long will this last? Is this a temporary market condition - are we moving to the national average of $5 per gallon for gasoline that experts predicted a month ago? Whatever happens, gasoline and diesel prices are not going to drop down to $2.75 per gallon again. Fuel efficiency in fleet vehicles is still a top priority for operators, but even a short term price drop is better than having another week of price spikes.

Related Topics: Fleet Vehicles, Sales & Marketing

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