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tractor

Fuel Prices going down?

Could it be so?

The national average, as of May 1st, for fuel was at $4.098/gallon.
As of today, May 30th, the national fuel average is at $3.934/gallon.
Now that is some good news! In one month, fuel prices have dropped $0.164/gallon! That's amazing. It may not seem like a lot, but it adds up fast!

As far as Arizona goes, and more specifically Flagstaff, we paid (at the pump) on May 27th - $3.96/gallon. So it appears that we are just a bit higher than the national average.

Let's do some math here shall we…. and let's see what we actually get with that $0.16 savings.

Just for an example, let's take a local truck traveling a 550 mile radius for a one day trip.
This particular truck gets an average of 6 mpg. This truck will use 91.66 gallons of fuel for this specific trip (and of course this is just hypothetically speaking, there are many more factors that go into figuring fuel usage, but for this example, lets keep it simple).

At the rate at the beginning of the month, the truck used $375.62 of fuel for this trip.
At todays rate (by the national average), this same truck used $360.59 of fuel for the same trip.

A small change of $0.164/gallon is a savings of $15.03 for this truck on one trip. That's more than an hours wage for most people!
Let's say this truck does this trip 5 times a week, 50 weeks a year (we'll give the truck/driver a 2 week vacation).
This truck/driver is saving (at $15.03 a trip) $75.15 a week = $300.60 a month = $3,757.50 savings for 50 weeks.

WOW! That's huge! A savings of $3,757.50 in 50 weeks for a decrease in fuel of $0.164/gallon.

Let's hope the national average continues to go down and give all of us a break!

Keep on Trucking & enjoy your week!