The Gasoline Futures Market Predicts Prices to Fall

The 103rd State of the Fleet Industry video is live, and today's topics include:

• Decline in U.S. of gasoline consumption in the second quarter of 2022 compared to same time last year due to demand destruction following a 61% increase in fuel prices.
• Gasoline future market had a 9.7% decline on July 5, 2022, signaling the market believes that future gasoline prices will be lower than those today.
• The anticipation of a recession in 2023 is putting downward pressure on gasoline futures.
• Higher mpg by SUVs and full-size trucks makes keeps them desirable to consumers despite higher fuel prices.

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⌚ Timestamps ⌚

0:00 Intro

1:20 U.S. Gasoline Consumption Declines in Q2 2022

2:24 Decline in Consumption has Nominal Impact on Fuel Prices

3:21 Futures Market for Fuel

4:42 Gasoline Futures Market Declined 9.7%

5:14 Anticipation of a Recession in 2023

6:14 Declining Impact of Higher Fuel Prices on Vehicle Acquisitions

This video originally appeared on automotive-fleet.com.