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It is rare for an attempt towards optimization at the fleet-level when consideration is given to the sheer number of seemingly unpredictable interactions among vehicles and infrastructure in congested urban areas. To close the gap, we introduce a simulation based framework to explore the impact of speed synchronization on fuel economy improvement for fleets in traffic. The framework consists of traffic and vehicle modules. The traffic module is used to simulate driver behavior in urban traffic; and the vehicle module is employed to estimate fuel economy. Driving schedule is the linkage between these two modules. To explore the impact, a connected vehicle technology sharing vehicle speed information is used for better fuel economy of a fleet including six vehicles. In all scenarios analyzed, the leading vehicle operates under the EPA Urban Dynamometer Driving Schedule (UDDS), while the other five vehicles follow the leader consecutively.