Dr. Andrew Thomas, assistant professor of marketing and international business, was quoted in an April 19 Fleet Owner story on diesel price forecasting.
The story reports that while analysts generally agree that the price trend for fuel is “up, down slightly and then up again, they differ on the particulars. For example, there are differing opinions on the factors that are propelling this roller-coaster ride.
Author and contributing editor for Industry Week, Thomas sees the U.S. dollar, which is currently weak relative to other major currencies, as an indicator of fuel prices.
“My take is that the dollar has been in decline in relationship to other currencies over the past few years so the price of oil has been going up [as a result],” Thomas reported to Fleet Owner. He expects to see oil prices rise in the near term, drop in a year, but go higher over the next five years.
Thomas predicts that the price of oil will continue to be tied to value of the U.S. dollar which will rebound in the long term. “I always bet on America,” he says. “It may take a long time, but we’ll fix it.”
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Full Fleet Owner story: The futility of diesel price forecasting