Fuel Costs

By Staff -- Logistics Management, 5/1/1999

Average prices for gasoline rose 4.9% from February to March, while jet-fuel prices rose 5.6%. Problems with California refineries in February coupled with OPEC's announcement that it would reduce oil output helped to raise the price of crude oil. Looking at the petroleum-refining industry's overall materials budget, we see costs have fallen 23% in the 12 months ending with March 1999. So this latest price hike was a drop in the deflationary bucket.

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