Fuel Prices Dip Briefly, but Volatility Keeps Fleets on Edge
Fuel prices offered fleets a short-term break, with the national average dropping 9.4 cents to $3.97 per gallon last week. Despite that dip, prices remain higher than both last month and a year ago. Most regions saw declines, though the Midwest was the exception with slight increases. For fleet operators, this kind of temporary relief can help with near-term fuel spend, but it doesn’t signal a stable trend.
Ongoing geopolitical tensions—especially involving Iran and key oil shipping routes—are driving uncertainty in global supply. Analysts warn that prices could rise again quickly, with diesel likely to follow if disruptions continue. For fleets, the takeaway is clear: fuel costs remain unpredictable, making it important to plan for continued swings rather than relying on short-lived price drops.
Canadian New Vehicle Sales Slide as Costs and Uncertainty Rise
Canada’s new light vehicle market slowed sharply in March, with sales down across all provinces as higher fuel prices and economic pressures weighed on demand. Most regions saw steep declines, with several provinces posting double-digit drops. Overall sales reached about 170,000 units for the month, down more than 8% year over year, while the seasonally adjusted annual rate also came in weaker than expected.
GM EV Pullback Signals Uncertainty for Fleet Electrification
General Motors is delaying plans to update its electric truck and SUV lineup, including the Chevrolet Silverado EV, GMC Sierra EV, Hummer EV, and Cadillac Escalade IQ. While current models remain available, future versions are now on hold as weak sales, high costs, and the loss of federal incentives weigh on demand. At the same time, GM is ramping up production of gas-powered trucks to meet stronger market demand, highlighting a clear shift in near-term strategy.