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- 07 Feb
Fuel economy of new vehicles highest ever
According to a new University of Michigan study, new vehicles sold in the US have a record miles per gallon rating, reaching 24.5 mpg. That is a full 1 mpg increase from January 2012, 2 mpg increase from January 2011, and 4 mpg increase from January 2008. A month by month detailed table can be found here.
Last month I wrote a summary of the US Energy Information Agency January report, where the USEIA explained that the primary cause for ongoing decreased fuels consumption in the US is increased auto fuel efficiency. This Michigan study correlates well to that study, and in combination, the two studies help us predict the future of US retail fuel sales volumes – we can expect lower volumes this year than last.
From a fuel pricing strategy standpoint, we can anticipate an increasingly competitive fuels market, as the overall fuels volume pie continues to shrink. The practice of fuel price management is not for the weary, and requires careful attention to monitor margins and volumes store by store, market by market, with a well executed fuel pricing strategies plan.
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