CNG Provides Fleets Certainty Through Global Market Instability

CNG Provides Fleets Certainty Through Global Market Instability

April 17,2020–ActNews.com

In an increasingly connected world, unpredictable international events can send shockwaves through our markets overnight. Whether that be disruptions in fuel supply, the fear of impending regulations, global trade tensions or an economic recession—all of which we have seen in the last year—it is no longer a question of if these global events will impact US fuel prices, but when. In 2019, prices for oil have reached as high as $85.83 per barrel and fallen to $50.49 per barrel—a 70% price difference (InfoMine). In 2020, with the impacts of COVID-19 on the global economy, we are seeing prices plummet. Prices as of end of March and early April 2020 are between $25 and $35 per barrel.

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