Gas prices have increased for the second week of February, with the national average reaching $3.12 per gallon, though prices remain 6 cents lower year-over-year, according to EIA data. While some states have experienced price hikes, particularly those with price cycling, much of the country has seen stable costs. Refinery issues, such as a fire on the West Coast and the seasonal transition to summer gasoline, have caused localized disruptions, pushing prices over $4 per gallon in that region.
Meanwhile, the Gulf Coast saw a slight decline of 1 cent, maintaining the lowest regional average at $2.69. Trade policies, including tariffs on Mexico and Canada, remain on pause and have yet to impact fuel costs. Currently, 22 states have an average gas price below $2.99, with Mississippi leading as the cheapest at $2.67 per gallon.
Balancing Fleet Costs and Sustainability: A Total Cost of Ownership Analysis for Compact SUVs
Corporate fleet managers face the challenge of balancing sustainability initiatives with cost control, requiring complex analyses of vehicle emissions and ownership expenses. A study by Vincentric analyzed the total cost of ownership (TCO) and annual in-use CO2 emissions for 2024 model-year vehicles driven 20,000 miles per year over five years, covering gas (ICE), hybrid (HEV), plug-in hybrid (PHEV), and battery electric (BEV) powertrains.
Extended-Range EVs: A Game Changer for Fleet Efficiency and Electrification
Extended-range electric vehicles (EREVs) are emerging as a bridge between plug-in hybrids and fully electric vehicles, offering many of the benefits of both. Unlike traditional hybrids, EREVs operate solely on electric power with an onboard gasoline engine serving only as a generator to recharge the battery, extending range without direct drivetrain involvement. This setup allows for emissions-free driving while eliminating range anxiety, making EREVs particularly useful for towing and long-distance travel where charging infrastructure is lacking. While they are more efficient and mechanically simpler than plug-in hybrids, they still require maintenance and can be costlier due to added internal combustion components.