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EIA Short-Term Forecast Projects Lower Gas and Diesel Prices in 2012

November 10, 2011

WASHINGTON – The U.S. Energy Information Administration issued its short-term energy outlook earlier this week, projecting the price of oil, gasoline, and diesel through the end of the year and into next year.

For regular-grade retail gasoline prices, EIA said they have fallen 46 cents per gallon from their peak monthly average of $3.91 in May to $3.45 per gallon in October. EIA said this drop in prices is a result of falling crude oil prices and a normal seasonal consumption decline. The organization projects that average regular-grade retail gasoline price will increase to $3.54 through the end of the year but will drop to an average of $3.46 per gallon in 2012.

In terms of gasoline consumption, EIA said it expects it to shrink by 220,000 barrels per day (bbl/d), or 2.4 percent, through the end of 2011. In 2012, the organization said it is projecting growth of 40,000 bbl/d, or 0.5 percent, as highway travel increases and the U.S. economy grows.

For on-highway diesel prices, EIA projects $3.84 per gallon on average through the end of 2011 and a drop to an average of $3.79 per gallon in 2012.

In terms of the cost of purchasing oil for refiners in the U.S, EIA said it expects it to stay flat, around $100 per barrel through the end of the year and into 2012.

via EIA Short-Term Forecast Projects Lower Gas and Diesel Prices in 2012 – News – Automotive Fleet.

admin Fleet Manager Wall fuel prices 2012

You’ve heard that the price of a barrel of oil is increasing, how does that correspond to the price of gasoline?

Use the calculator below to get a better idea.

Gas Calculator: Predict Gasoline Fuel Price from Crude Oil Price

Notes:

It takes 3-6 months for crude oil to make its way through the refining process and make it into gasoline that you buy at the pump. Due to this delay, you may not see an immediate jump in pump prices.

This assumes that there are no disruptions in refinery capacity. If a refinery is disrupted, as happened during Hurricane Katrina, then you should expect the price you pay at filling stations to increase beyond the estimates here. Similarly, if taxes change, that will be reflected in the fuel price.

The pump price will also vary depending on your geography.

 

admin Fleet Manager Wall price increases

The DEF (Diesel Exhaust Fluid) seminar was a great success! An astounding 158 attendees from 100 different companies came to learn about Air1® over lunch. This brief 2 hour event covered important issues such as emission technology, EPA regulations, grant money available for new SCR trucks in California and the role of DEF. DeWitt also arranged for a guest speaker from Western Star, a heavy-duty truck manufacturer, to present. Topics included the benefits of SCR and a brief video of the technology.

Just wanted to say very informative. The pace of the presentation was very good and quick. More of these presentations should be addressed not only in fuel needs but also in Safety seminars and truck maintenance, vehicle equipment inspections..for some individuals or small companies not many can afford to be a member of Caltrux and then they lose out on important issues that affect our trucking industry. Anyway, great job and looking forward to future events that DeWitt may/will put on, says Dale Reinhart, C V R, a DeWitt Petroleum event attendee.

Please visit dewittpetroleum.com/DEF for more details..

admin Fleet Manager Wall

Dear Customers, Coworkers, Vendors, Family and Friends,

As you prepare to vote next week, please remember our battle in California is to stay financially upright and competitive.  Do not forget that if we don’t hold the legislature accountable, we will have ourselves to blame.  We must fight this battle on all fronts, let’s start with these two:

CARB’s Science is Wrong- Again!

CARB, by their own admission, significantly over-estimated diesel emissions. The recession has created additional reductions with the change in economic conditions since 2008.

• CARB used poor data and inappropriate assumptions in reaching their 2008 emission estimates.
• CARB over-estimated off-road emissions by 340%.
• CARB admits it over-estimated on-road emissions by about 30% and Sierra Research believes another 25% reduction is needed.

After questions arose about the internet “credentials” of CARB’s experts, CARB promised to do an independent report. Instead they relied on a previously prepared EPA document.  With that:

• Premature deaths went from 19,000/year (CARB study) to 9,200/year (EPA study), for ALL PM 2.5 emissions. Diesel makes up about 25% of PM 2.5 emissions.
• Margin of error in EPA study is 2,000 deaths.
• 25% of 9,200 are about 2,300 deaths, so the diesel-attributable deaths are close to the margin of error.

Should we have to retire vehicles before the end of their useful life at half their value? Based on faulty and misleading data? Can the businesses and people of California afford it? Communicate with CARB and your elected officials- the diesel truck rule must be reevaluated NOW.

YES on Prop 23, Saves Jobs

The passage of Prop. 23 will allow California to focus on job creation and economic recovery. It will do so without jeopardizing environmental quality because the state’s strict air, water quality and environmental protection laws will remain in place. It is vital to our employees, our company, and our industry that voters say Yes to Prop. 23 in the November Election. I encourage you to visit www.yeson23.com to learn more about why Prop. 23 is crucial to our business, the state of California and you.

With a persistently high unemployment rate (currently 12.3%) and a $20 billion budget deficit, California can’t afford AB 32’s costly regulations that will lead to even more job losses. As an employer in California, it would be irresponsible to sit back as a passive observer when a better alternative is available. Prop. 23 will save approximately 1.1 million California jobs jeopardized over the AB 32 implementation period (2012-2020) and prevent higher energy costs. Studies show that Prop. 23 will stop the following:

• Up to 60% higher electricity rates
• Up to a 57% increase in natural gas costs
• $3.7 billion a year in higher gasoline and diesel costs
• $143 billion cap-and-trade tax

Remind your coworkers, competitors, family, and friends:  our elected officials allowed this to happen, so let’s hold them accountable.

Thanks again each of you for working hard on this crazy situation.

Now VOTE!!!!

John DeWitt

admin Fleet Manager Wall AB32, CARB, PROP 23

DeWitt Petroleum received its first shipment of Air 1 Diesel Exhaust Fluid yesterday 3/17/2010. We are ready to meet the needs of  customers with Selective Catalytic Reduction (SCR) equipped vehicles. Diesel Exhaust Fluid is currently offered in 2.5 gallon containers with plans for bulk and drums in the future.

Additional resources:

• Diesel Exhaust Fluid Facts >>>
• To order contact our sales team at: 626.444.2691 or shoot us an email at: info@dewittpetroleum.com

admin Fleet Manager Wall