Star Oilco

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Fuel Market Report: April 21st – April 27th, 2024 1024 683 Star Oilco

Fuel Market Report: April 21st – April 27th, 2024

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Oregon Fuel Price Variance

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Fuel Market News

The fuel market experienced mixed price variances this week, as diesel prices dropped slightly and gas prices jumped $0.14 on the wholesale market, and only $0.05 on the retail market. The national average price for gasoline is at its highest since October, while no county in Oregon is averaging below $4/gal. With political climates in the Middle East and seasonal maintenance repairs for refineries, it is expected that oil prices will remain high in the coming weeks. Although, oil prices decreased this past week by $0.96, most analysts predict oil prices to increase in the following weeks.

Crude oil is trading above $80 for the fifth straight week at a current price of $81.89/barrel. $0.96 lower than last week, as oil prices trended downward, this past week.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $81.89 per barrel compared to $82.85 last week and $87 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

https://gasprices.aaa.com/?state=OR

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Why Construction Job Sites Need A Fueling Service 1024 683 Star Oilco

Why Construction Job Sites Need A Fueling Service

Here are some fuel-saving tips that a fuel delivery company can offer to their construction customers to help them save money on fuel.  

Why Construction Job Sites Need A Fueling Service 

It can be frustrating to waste time and lose productivity on your Portland construction site due to refueling. Eliminate those headaches with an on-site fuel delivery service. This can save your crew valuable time spent waiting in gas station lines or running errands. This leads to increased efficiency and productivity.  

Could you imagine how much more productivity your team will have on the job site by having less trips to refueling their equipment at nearby gas stations?

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  • On-site fuel delivery services eliminate time waiting in gas station lines or running errands for fuel. 
  • This translates into increased efficiency and productivity on your Portland construction site. 

Reduced Costs

In today’s competitive construction environment, keeping costs down is crucial. An on-site fuel delivery service can be a game-changer for your Portland-based projects. Eliminate wasted time and money traveling to gas stations. Fuel can be delivered directly to your job site, minimizing downtime and keeping your team focused on productivity. As a result, bulk fuel pricing through our service often translates to significant cost savings compared to pump prices at retail stations. Besides saving on fuel, you’ll also save on wear and tear on your vehicles and labor costs. 

  • No more wasted time traveling to gas stations. Fuel gets delivered directly to your site, keeping your crew focused on the job.
  • Bulk fuel prices are often cheaper than retail pump prices.
  • Saves on wear and tear on company vehicles and labor costs associated with refueling. 
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Improved Safety

In the fast-paced world of construction, safety is paramount. On-site fuel delivery services solve this problem by eliminating gas station travel. This reduces the risk of road hazards, spills during transport, and fuel transfer dangers on-site. Our trained professionals handle everything, ensuring safe and efficient refueling that keeps your workers focused on what they do best – building your project. 

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  • Eliminate travel to gas stations, reducing road hazards. 
  • Trained professionals handle fuel delivery, minimizing spill chances during transport and on-site transfer. 
  • Keep workers focused on construction tasks with sage and efficient on-site refueling. 

Convenience and Streamlined Operations 

Your Portland construction site will be more efficient and you’ll spend less time at the gas station. An on-site fuel delivery service eliminates wasted time and keeps your crew focused on what matters most – building. Forget about wasting valuable worker hours on refueling trips. Fuel delivery minimizes downtime and maximizes productivity.  

  • Eliminate wasted trips to the gas station and keep your workers focused on construction. 
  • On-site fuel delivery ensures minimal disruption to your schedule, maximizing project efficiency. 
  • Forget refueling – fuel delivery frees up valuable worker hours for what truly matters – building. 

Ultimately, by implementing an on-site fuel delivery service, construction companies can experience a multitude of benefits. From increased efficiency and cost savings to improved safety and streamlined operations, a reliable fuel delivery partner can empower your crew to focus on what truly matters – building exceptional projects. 

How could saving your team from making extra trips to nearby gas stations to refuel their equipment NOT help save time, improve productivity and speed up your project deadlines?

JOIN THE FUEL MARKET REPORT NEWSLETTER FOR YOUR WEEKLY FILL OF UPDATES!

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Fuel Market Report: April 14th – April 20th, 2024 1024 683 Star Oilco

Fuel Market Report: April 14th – April 20th, 2024

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Oregon Fuel Price Variance

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Fuel Market News

The wholesale market saw significant variance amongst rack average pricing as gasoline and diesel both dropped by $0.10 or more. Gasoline dropped $0.17 while diesel dropped $0.10. These price variances were felt throughout the local markets for fuel marketers but surprisingly did not affect the retail market. Average prices at the pump only moved by a penny. Crude Oil dropped by $3.00 which likely played a significant role in the downward pressure on fuel prices this past week. With the current growing conflicts in the Middle East, many analysts are preparing for high crude prices in the coming weeks.

 

Reasons For Lower Prices:

Crude oil is trading above $80 for the fourth straight week at a current price of $82.85/barrel. Lower than last week, as oil prices trended downward, this past week.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $82.85 per barrel compared to $85.59 last week and $89 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

https://gasprices.aaa.com/?state=OR

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: April 7th – April 13th, 2024 1024 683 Star Oilco

Fuel Market Report: April 7th – April 13th, 2024

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Oregon Fuel Price Variance

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Fuel Market News

The second week of April brought small variances to the retail market as the wholesale market closed with the same rack averages as it opened at last week. In Oregon, the retail market bumped up $0.04 for gasoline and $0.02 for diesel. The national average for gasoline also increased by $0.04 while diesel went up by only $0.03. Compared to the first week of April, this past week was much less extreme in terms of price variance, as most products on the market did not vary by more than $0.05.

 

Reasons For Higher Prices:

Crude oil is trading above $80 for the fourth straight week at a current price of $85.59/barrel. $0.38 higher than last week, as oil prices trended upward, this past week.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxesa helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $85.59 per barrel compared to $85.21 last week and $89 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

https://gasprices.aaa.com/?state=OR

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: March 31st – April 6th, 2024 1024 683 Star Oilco

Fuel Market Report: March 31st – April 6th, 2024

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Oregon Fuel Price Variance

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Fuel Market News

Don’t let April Fool’s Day trick you, fuel prices are on the rise. The fuel market experienced significant price jumps for both gas and diesel this past week. Retail gas prices jumped $0.12, while diesel jumped $0.05. The wholesale market also bounced up this past week as rack averages bumped up $0.10 for gasoline and $0.17 for diesel. As we get into April and May it is likely we will see diesel in the $4.50-$5.00 range, as gas has already entered this range. Oil is above $80/barrel for the fourth week in a row, at a current price of $85.21/barrel. This is one of the main contributors to the higher fuel prices we have seen in recent weeks.

Oil prices are still above $80/barrel for the third time this month. This is one of the main contributors to the higher fuel prices we have seen in recent weeks.

 

 

Reasons For Higher Prices:

Crude oil is trading above $80 for the third week at a current price of $85.21/barrel. $0.25 lower than last week, as oil prices trended downward slightly, this past week.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $85.21 per barrel compared to $85.46 last week and $87 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

https://gasprices.aaa.com/?state=OR

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Why Business Owners Should Use Fuel Cards for Business Operations 829 1024 Star Oilco

Why Business Owners Should Use Fuel Cards for Business Operations

Business owners typically consider these factors when deciding between a fuel card and a credit card for their fleet. 

Control Over Spending 

Fuel cards offer additional control as they restrict purchases to fuel and specific stations. Credit cards allow for multiple purchases, making expense tracking more challenging. This level of detail makes it possible for better budgeting and financial planning. Cardlock programs allow spending limits on individual cards. This provides an extra layer of control over fuel expenses, preventing employees from exceeding the designated budget. 

Imagine having full control over card spending with automatic limits so you can continue to focus on your business operations without managing your fuel expenses.

Fuel cards: 

  • Limit purchases to fuel only. 
  • Restrict use to specific stations. 

Credit cards: 

  • Allow for various purchases beyond fuel. 
  • Make expense tracking harder. 
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Fuel discounts 

Fuel cards often come with discounts at participating stations, reducing fuel costs. Credit cards may offer reward points, but these could have less value than fuel discounts. With a fuel card, you get a discount right away, which can be several cents or even more per gallon. That can add up quickly depending on how much you drive. With a credit card, reward points may have a waiting period or expire after a certain amount of time. Additionally, fuel cards are typically easier to use than credit cards, as they are accepted at more gas stations. 

Fuel cards: 

  • Offer immediate discounts at participating fuel stations. 
  • Discounts can be significant (several cents or more per gallon), leading to substantial savings with high fleet fuel consumption. 
  • Wide network of participating stations ensures easy access to discounts. 

Credit cards: 

  • Reward points may offer less value than fuel card discounts. Earning points often translates to minimal gas discounts. 
  • Points typically come with restrictions like redemption minimums, blackout dates, and limitations on usable items. 
  • Using points often requires extra effort compared to automatic fuel card discounts. 

Data and tracking 

Fuel cards provide detailed data on fuel purchases, driver behavior, and fuel efficiency. Credit cards offer less data, making it more difficult to identify trends and optimize fleet operations. With a fuel card, companies can track individual driver behavior, such as what fuel stations they use, how much they purchase, and how often they make stops. They can also compare this data with other fleets to identify trends and areas for improvement. With a credit card, companies must rely on self-reported data, which can be unreliable and make it difficult to make informed decisions about fleet operations. 

Fuel cards: 

  • Track fuel purchases (date, time, location, amount, gallons). 
  • Reveal driver behavior patterns (frequent stops, refueling times, locations). 
  • Enable monitoring of fuel efficiency (by tracking fuel use vs. mileage). 

Credit cards: 

  • Limited data (total amount spent, merchant name). 
  • Hindering identification of fuel usage trends. 
  • Make it difficult to optimize fleet operations (due to lack of driver and efficiency data). 

How could a fuel card help you better manage your fuel tracking and expenses automatically to save time and money for your business operations and your bottom line?

Security 

Fuel cards typically have PIN verification and spending limits, minimizing fraud risk. Credit cards can be misused for unauthorized purchases. Additionally, fuel cards are more secure than credit cards because they are not linked to a bank account, limiting the amount of money that can be withdrawn. On top of that, fuel cards are easier to track and monitor than credit cards, making it easier to identify any suspicious activity.  

Fuel cards typically have PIN verification and spending limits, minimizing fraud risk. Credit cards can be misused for unauthorized purchases. Additionally, fuel cards are more secure than credit cards because they are not linked to a bank account, limiting the amount of money that can be withdrawn. On top of that, fuel cards are easier to track and monitor than credit cards, making it easier to identify any suspicious activity.  

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Fuel Market Report: March 24th – March 30th, 2024 1024 683 Star Oilco

Fuel Market Report: March 24th – March 30th, 2024

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Oregon Fuel Price Variance

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Fuel Market News

The market experienced minimal price variance throughout the week, as prices closed within $0.02 of their opening price across the board for gas and diesel. The diesel market began to rise following the uptick in diesel prices this past week. Although retail prices only moved half a cent from the week before. Gas prices have continued to climb as gas demand increases with tight gasoline supplies in the West Coast markets. The retail average for gasoline in Oregon is $4.29/gal, while diesel is averaging around $4.31/gal. The retail price for gasoline in Portland is $4.36/gal, with diesel averaging at $4.41/gal. 

Oil prices are still above $80/barrel for the third time this month. This is one of the main contributors to the higher fuel prices we have seen in recent weeks.

 

 

Reasons For Higher Prices:

Crude oil is trading above $80 for the third week straight at a current price of $85.46/barrel. $3.55 higher than last week, as oil prices trended upward this past week.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $85.46 per barrel compared to $81.91 last week and $88 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

https://gasprices.aaa.com/?state=OR

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: March 17th – March 23rd, 2024 1024 683 Star Oilco

Fuel Market Report: March 17th – March 23rd, 2024

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Oregon Fuel Price Variance

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Fuel Market News

The diesel market experienced minor fluctuations this past week. Rack average pricing raised $0.07/gal while retail average prices increased $0.03 from the week before. The diesel market for B5 & B20 in the Portland area has seen much lighter fluctuations than the gasoline market in weeks prior. The gasoline market experienced significant fluctuations this past week as retail prices rose by $0.12/gal while rack average pricing raised just $0.07/gal. Although most retail stations in Portland are hovering around $3.20-3.40/gal for gasoline which is higher than the average price reported by AAA.

Oil prices are still above $80/barrel for the second time this month. With higher oil prices come higher fuel prices across the board, as we have seen in recent weeks. Drivers are back to searching for the cheapest fuel in town as prices continue to rise.

 

 

Reasons For Lower Prices:

 

Crude oil is trading above $80 for the second week straight at a current price of $81.91/barrel. $0.77 lower than last week, as oil prices trended downward this week.

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $81.91 per barrel compared to $82.68 last week and $86 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

https://gasprices.aaa.com/?state=OR

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: March 10th – March 16th, 2024 1024 683 Star Oilco

Fuel Market Report: March 10th – March 16th, 2024

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Oregon Fuel Price Variance

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Fuel Market News

The diesel market jumped this week with prices increasing by $0.12 on the wholesale market, to an average of $2.66 as of Monday. B20 prices experienced minor fluctuations as rack average pricing fluctuated only $0.05. The gasoline market experienced the biggest spike this past week as rack average prices increased by $0.23 from the week prior.

As predicted last week, retail fuel prices in Oregon are averaging slightly over $4/gal with most stations in Portland hovering around $3.99-4.10. Oil prices have surpassed $80/barrel for the first time in months, which will play a major role in the uptick in fuel prices in the market. Consumers can expect fuel prices to increase as we enter the Spring season this week on March 19th with the summer fuel blend hitting the market.

 

 

Reasons For Lower Prices:

 

Crude oil is trading above $80 for the first time in months at a current price of $82.68/barrel. $4.55 higher than last week, as oil prices trended upward for the first time this month.

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $82.68 per barrel compared to $78.13 last week and $84 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

https://gasprices.aaa.com/?state=OR

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: March 3rd – March 9th, 2024 1024 697 Star Oilco

Fuel Market Report: March 3rd – March 9th, 2024

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Oregon Fuel Price Variance

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Fuel Market News

The diesel market experienced downward price fluctuation, as rack average prices dropped $0.12 down from $2.71 last week. However, B20 rack averages experienced minor fluctuations closing the week at the same price they opened at. The gasoline market went up this week with rack average prices increasing $0.11 from the week prior.

We will likely see retail gas prices over $4.00 soon, as most stations in Portland are hovering around $3.90. Oil prices experienced minor fluctuations this week as prices shot up in the middle of the week but closed the week at the same price it did last week at $78/barrel. Oil prices are still under $80/barrel but consumers can still expect fuel prices to increase as we enter the Spring season next week on March 19th.

 

 

Reasons For Lower Prices:

 

Crude oil is trading below $80 for the ninth straight week at a current price of $78.13/barrel. $0.36 lower than last week, as oil prices trended downward for the second week straight.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $78.13 per barrel compared to $78.49 last week and $83.70 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

https://gasprices.aaa.com/?state=OR

Join the Fuel Market Report newsletter for your weekly fill of updates!