By Pablo Ormachea, VP of Data at Motus
Autumn Acceleration: In October, fuel prices dipped to $3.37, just a penny lower than September, and markedly down from $3.66 a year ago. This backdrop of stable yet lower fuel costs has accelerated business travel across the country and especially in the Northeast, where mileage on the Motus platform has risen by an impressive 18%, reflecting a robust end-of-year business activity across the regions.
Data from Motus shows that national fuel prices remained consistent at $3.37 in October, compared to $3.38 in September, and prices stayed lower than 2023, with October 2023 pricing at $3.66.
Key data points:
- Fuel trends
-
- October 2024 national fuel price: $3.37
- September 2024 national fuel price: $3.38
- August 2024 national fuel price: $3.44
- October 2023 price: $3.66
- 2023 average fuel price: $3.55
Looking regionally, fuel prices in October were highest in the Western US at $3.92 and lowest in the Southern US at $2.90.
Looking at October business mileage trends by region in the US, business mileage was up across the country with the West 15.63% higher than September, the South 15.79% higher, Northeast 17.87% higher, and the Midwest 15.05% higher.
- October Business Mileage trends
-
- South +15.79%
- Midwest +15.05%
- West +15.63%
- Northeast +17.87%
