Watch Those (Falling) Oil Prices

Don’t look now, but oil has dropped almost $25 per barrel. Of course this can be a temporary event or the beginning of a long term trend. In any case, this 15% reduction should be reflected quickly in your fuel surcharge calculation, your fuel adjusted blanket agreements, or spot pricing on fuel related products.

Granted, the price always seems to fall faster than it rises, but I’m certainly happy to pay about fifteen cents a gallon less for gas than just a couple of weeks ago. Suppliers in general have been quick to react to rising fuel prices. Let’s see how they react to falling ones.