To dive into the data, we first queried transactions looking for purchases made at fuel and service stations in 2019 (using Merchant Category Codes 5541 and 5542). U.S. regular retail gasoline prices averaged $2.60 per gallon (gal) in 2019, 11 cents/gal (4%) lower than in 2018. Qualified Divvy customers will be notified of the Divvy Capital offerings available to them. Sales, revenue and prices, power plants, fuel use, stocks, generation, trade, demand & emissions. Except for a brief two-month period between April and May, prices in Miami were consistently lower than in New York City and Boston. Average gasoline prices for the entire Gulf Coast region moved within a range of $1.89/gal to $2.58/gal during the year. When we ran our initial analysis, 7-Eleven was the most popular vendor—by far. Sign up for email subcriptions to receive messages about specific EIA products. Chevron was the second most frequented fuel provider, but had one of higher averages per gallon—at $3.23. each year so that employees, contractors, and employers can use it for tax purposes. U.S. Because of the MCC codes we used, we were unable to filter out non-fuel purchases, so there’s a good chance people were using their business cards at 7-Eleven to buy cheap coffee or snacks when traveling. California’s reformulated gasoline program is more stringent than the federal government’s program. According to the U.S. Energy Information Administration (EIA): “In addition to differences in state and local taxes, other factors contribute to regional differences in gasoline prices, including distance from supply, supply disruptions, and retail competition and operating costs.”. State energy information, including overviews, rankings, data, and analyses. In addition to mileage, you can also keep track of business expenses and revenue. This rate fluctuates year to year and applies to cars, trucks, and vans. West Coast (Los Angeles, San Francisco, and Seattle). Gasoline prices rose steadily during the first quarter of the year, rising from $2.24 on January 7 to $2.90/gal on May 6, before gradually declining through the rest of the year. Gasoline prices rose steadily during the first quarter of the year, rising from $2.24 on January 7 to $2.90/gal on May 6, before gradually declining through the rest of the year. We also observed that the most popular gas stations weren’t always the cheapest options. Everlance is the #1 rated mileage and expense tracking solution. The IRS sets a standard mileage reimbursement rate each year so that employees, contractors, and employers can use it for tax purposes. You’re probably wondering why gas is so expensive in California ($3.25) versus Oklahoma, which has the lowest price ($1.85)? Of the 10 cities for which EIA collects data, retail gasoline prices in San Francisco were the highest for all but three weeks in 2019. Based on our top 20 list, the average cost of a gallon of gas last year was $2.88—the EIA has overall 2019 average gas prices at $2.60. 5541 and 5542). However, overall demand has been low recently, which contributes to the growth in stocks and helps to keep gas prices lower despite the rising crude oil prices. Check out our other Divvy Research piece going over the most popular gas stations for business purchases. Pilot Flying J had an average transaction total of $58.50, more than $10 higher than Maverik, our runner-up. Gulf Coast retail gasoline prices tend to be the lowest in the country, and the region has had the country’s lowest price every year for the past 20 years. Average gasoline prices for the entire Rocky Mountains region moved within a range of $2.17/gal to $2.98/gal during the year. Alternatively, if your business operates in a state that has lower gas prices than the national average, you might consider lowering your reimbursement rate. To breakdown these factors in more detail: EIA’s explanation of why gas prices in California are so high: “California gasoline prices are higher and more variable than prices in other states because relatively few supply sources offer California’s unique blend of gasoline outside of the state. Forms EIA uses to collect energy data including descriptions, links to survey instructions, and additional information. Monthly and yearly energy forecasts, analysis of energy topics, financial analysis, congressional reports. Divvy identifies qualified customers using a number of factors including Divvy payment history and growth of your business. Cost of Gallon of Gasoline with taxes added $3.531 Surcharges and Credit Card Fees. For 2019, the region’s average gasoline prices were the second highest in the country for 39 weeks, but they were also the second lowest for 9 weeks—a duality that reflects the region’s relatively low gasoline consumption and divergent local circumstances. The good news is that 2019 kicked off with relatively low gas prices. Comprehensive data summaries, comparisons, analysis, and projections integrated across all energy sources. If a company chooses to use a rate that exceeds the federal standard, the excess income would be taxable for the employee, which is essential to keep in mind. Regular Mid-Grade Premium Diesel E85; Current Avg. To dive into the data, we first queried transactions looking for purchases made at fuel and service stations in 2019 (using. Crude oil, gasoline, heating oil, diesel, propane, and other liquids including biofuels and natural gas liquids.

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