The Business Of Independent Service Provider Contracting

What's Happening with Fuel Prices?

Posted by Ben Weil on Feb 14, 2021 4:25:52 PM

(Stock Image from Canva)

Experts are predicting fuel prices will continue to increase in 2021. Why is that the general consensus?

First, we have to look at the main components of fuel pricing. The underlying components are a.) the cost of crude oil, b.) refining costs, and c.) distribution and marketing costs. Seems simple enough, but then federal, state and local taxes are added. That’s why pricing generally differs from one state to another.

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Topics: Business Results, FedEx Ground, Business, contractor, Fuel, fuel card, fuel management program

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