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 ⌚
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.