AAA Daily Fuel Gauge Report for Friday, 7/31/20

UPS announced third-quarter 2024 consolidated revenues of $22.2 billion, a 5.6% increase from the third quarter of 2023. Consolidated operating profit was $2.0 billion, up 47.8% compared to the third quarter of 2023, and up 22.8% on a non-GAAP adjusted basis. Diluted earnings per share were $1.80 for the quarter; non-GAAP adjusted diluted earnings per share were $1.76, 12.1% above the same period in 2023. For the third quarter of 2024, GAAP results include an after-tax net benefit of $36 million, or $0.04 per diluted share, comprised of a $152 million gain resulting from the divestiture of the Coyote Logistics business net of transformation strategy costs of $116 million.

Andrew Boyle, ATA first vice chair and co-president of Massachusetts-based Boyle Transportation, went to Washington this week to testify before a Senate Environment and Public Works Subcommittee on the future of clean vehicles. As the manager of a truck fleet with one of the strongest environmental records in the industry today, Boyle injected a heavy dose of reality into the debate happening on Capitol Hill and nationwide over electric-vehicle mandates. In the wake of the U.S. Environmental Protection Agency's decision to let California set de facto national emission standards for commercial vehicles, Boyle's testimony sheds light for lawmakers onto the gravity of these mandates—and how disconnected they are from current, real-world conditions.

National Average Price for Regular – Current: $2.259; Month Ago: $2.364; Year Ago: $2.258. National Average Price for Diesel – Current: $2.446; Month Ago: $2.508; Year Ago: $2.372.