Despite the continued turmoil in the Middle East, the U.S. average retail price has fallen 15 out of the last 17 days. Experts believe that this trend will continue for the rest of August.
According to the company, the new name reflects its transformation and growth strategies, which are focused on physical, digital and virtual corporate card payment solutions for businesses internationally.
Fleet One is now a wholly owned subsidiary of Wright Express.
California is seeing particularly high prices compared to the rest of the U.S., according to the September Wright Express fuel report. Experts predict that the national average will hit $3.50 by the end of the year.
While gas prices continued to climb through August and are expected to continue to increase in the near term, Wright Express said that prices are expected to drop again by the Thanksgiving holiday.
Wright Express said the acquisition will enhance its ability to service small fleets, as well as over-the-road and mixed fleets.
States in the Midwest, including Indiana, Michigan, Ohio and Illinois, have seen prices increase nearly 60 cents per gallon during the past 30 days.
Fleets can pay employees and reimburse their expenses electronically through one system and on one paycard.
Experts predict that some of the lower priced areas could see prices head north again, but not by any large amount. Some of the higher priced areas like the West Coast still have room to go down, and prices should continue to fall, albeit at a fairly slow rate before flat lining in the coming weeks.
Despite this drop in the national average, refinery issues have continued to cause West Coast prices to remain at levels well above $4 per gallon. Experts say, however, that the issues have been resolved and prices should drop.
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