A new fuel price forecast from the U.S. Energy Department shows little change from expectations a month ago for the price of diesel, but the outlook for gasoline has moved a little higher.
Collapse of Oil Prices and Ruble Devaluation Negatively Impacting Russian Fleet Market
The Russian economy is in a recession, with the gross domestic product (GDP) shrinking 3% in 2015. This economic downturn is widespread, with output falling in key sectors of the economy. The overall fleet demand in the Russian market is down, primarily due to the volatility in the exchange rates for the ruble and its impact on new-vehicle pricing.