Archive for the ‘G.Sokolis Posts’ Category
By Glen Sokolis - May 18th, 2011
It’s really hard to believe that diesel fuel prices and gas prices are falling, especially if your local gas station hasn’t lowered prices yet. Ok, I realize that MOST of us have not seen the lower fleet fueling prices at the pump yet. This is basically because most retail locations are taking their time lowering their prices—and your fueling costs. But yesterday, in the fairly small town where I live, the price for gas at a low-cost retail station was down to $3.93 a gallon. A half mile away it was $4.09 a gallon, and half mile in the other direction it was $4.19 a gallon. Knowing the fueling market as well as I do I recognize that even that low-cost retail station is making a nice margin. The others are knocking it out of the park, but that isn’t good for consumers. Keep watching, prices will drop down near you soon, fueling costs will get better, trust me.
What is causing a dip in diesel fuel prices now, especially after prices went up 20 out of the past 22 weeks in a row? And, why now? It is unusual, especially for this time of year as we approach summer when prices tend to be on the rise. Let’s not forget our daily friend the gasman that we see the prices daily on roads and almost all of us have to see at least once a week for a fillup, those gas prices are falling too. The big question is why? And the answer is simple, but yet complicated.
As we look back for clues, remember that diesel fuel prices started their run of increases around November 29, 2010 when national DOE prices were $3.16 and a barrel of crude was $81.65. That was about the same time many of the large brokerage houses came out saying that crude oil was going to go over $100 a barrel. Uncertainty creates fear, but by the time we got to February 14, 2011 crude oil was still only at $83.66 a barrel. Diesel fuel prices had climbed to $3.54 based on supply needs for heating oil in the Northeast United States and China’s continued increased consumption. Then, all heck broke loose.
Fighting and political unrest in the Middle East scared investors who speculated that there would be interruptions in oil supply. Libya’s civil war created a very small supply issue. Fuel prices took off. In mid February the price per barrel was $83.66 and by April 29th it was up to $113.39. During that same time, the U.S. dollar went to one of its weakest levels in history. Investors were betting that fighting would continue in the Middle East that could create oil supply issues as we begin the summer driving season and the usual increased demand for gas. There is a lot of tension, speculation and fear.
Take a snapshot of today. By all accounts of market fundamentals, things look fine. The world’s largest oil producer Saudi Arabia h has committed to pick up any lost supply from other countries and stated that crude oil prices should be in the range of $80 to $90 a barrel. You, me and every other car-driving American have cut back on our gas purchases when they hit $4/gallon. The DOE shows 2.4% less gas being used this year than last year over the last four weeks. The U.S. dollar is getting stronger. Fighting continues in Libya, but the initial fears have gone away. We killed the most wanted man. And speculators woke up. Don’t poke the bear!
The sell off happened the first week of May and now with new trading policies on speculators we shouldn’t have crazy ups and downs. All great news, I can hear you saying, but your real question is why am I still paying so much if crude oil prices are down $15 dollars a barrel? Time. Give it a few weeks. As a very rough basic gauge: for every dollar crude oil goes down, diesel fuel prices and gas prices will go down between 2-3 cents per gallon.
Let’s not forget that Mr. Truckstop and Miss. Retail Station have been taking it on the chin the last several months so they are looking to hold onto some of that margin that is in the fuel pricing now. What goes up fast comes down slow. I would expect to see National DOE diesel fuel prices by July to be close to $3.75, maybe even less. It all depends on how long the retailers can hold their margin. Retail prices for gas should fall 35 cents over the next few weeks, but there will be retailers out there trying to hold onto every last penny.
Be smart and shop well. If you have any fuel management issues, feel free to reach out to us and we will walk you through.
Tags: diesel fuel prices, fleet fueling, fuel savings
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By Glen Sokolis - April 5th, 2011
It’s easy to take a seat on the sidelines and believe all of the things you read in the headlines about diesel fuel prices and gas prices going even higher. Of course those kinds of stories make news and help ratings. So, to answer the question in my own headline, ‘Are diesel fuel prices going up?’ – you betcha.
But let’s take a moment to look at the fundamentals of the oil market. Supply is good. Inventory levels are very good. Demand worldwide is a little soft right now with the crisis in Japan. So why are fuel prices going up? Why are we all paying so darn much for fueling our fleet and personal vehicles? Heck, my wife said to me the other day, “I was going to get premium gas because the car engine was making a knocking sound, but there was no way I was going to pay over $4.00 a gallon!” Instead she got what she normally does, regular, paid $3.65 and her new car is still knocking.
I believe personal and fleet fueling costs are going up because of FEAR! FEAR! FEAR! Everyone is scared of the unknown. What if all this turmoil continues in the Middle East? Yes, the situation in Middle East is a mess and as I just wrote in my column, it has been a mess for a long time and will probably continue to be a mess for the foreseeable future. What if the U.S. and global economies continue to grow and there is a greater demand for oil? Yes, let’s hope the economies improve. And yes, the world’s energy demands will continue to increase and so will demand for crude oil. Even with natural gas, nuclear, clean coal, solar and electricity we are dependant on crude oil as the biggest source of energy.
Well, what if? What if? What if? My whole life I’ve played the tiresome and very complex game of asking myself “What if?” Lately, I have tried to stop, but I can’t just yet. How about this…what if we all just said ‘NO!’ to ‘what ifs?’ Just for a moment, let’s deal with the real facts on the table. Get rid of fear and not speculate about what might happen tomorrow. Truth is we have a good supply and we have good inventory, therefore diesel fuel prices should be $3.30 a gallon, gas prices should be $3.10 a gallon and crude oil should be around $70-$80 a barrel.
Let’s look at some more facts. Do you know who makes more crude oil than anyone else in the world? Saudi Arabia. How much? Just under 20% of the world oil. Do you know what the Saudis believe the price of crude oil should be? $70-$80 a barrel. Do you know who is the second largest crude oil producer? Oh Canada we love you! The Canadians are pumping out 13% of the world oil. Add the two together for 33% or one third of the world oil. Iraq is number four on the list with 9% of the world oil, followed by Kuwait at number five. Put them all together and that is almost 50% of the world oil right there.
Oil is the lifeblood for most of the oil producing countries that I did not mention here who make up the other 50% of world oil. It’s not in their best interest to cut off supply or price themselves out of the marketplace. That would be like shooting themselves in the foot.
However, it is unfortunate that fear is the reality right now. And even though I’m thinking prices are going to come down by the end of the month, followed by another drop in May, that won’t be the situation for too long. The supply will continue to flow and add to our already good inventories. There’s even a little surplus out there right now. Americans don’t like paying over $3.50 a gallon, and we will cut back our driving and subsequent spending on gas. So with my math, I’m coming up with $108 a barrel; $80 for fuel and $28 for fear. I think that the cost per barrel will dip below $90, and then go back up to $100 by the end of the year. However, after that, we might not see it come back off of that number.
So be prepared to reach deeper in your pocket to pay at the pump. No one likes the sound of $4 a gallon for gas, especially my wife, but $4 just may be the new regular number in 2012.
Tags: diesel fuel prices, fleet fuel cost, fuel prices
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By Glen Sokolis - March 22nd, 2011
Yes, the DOE national weekly average for diesel fuel prices went down for the first time since November 2011. But don’t get too excited about your fuel management budget because they only went down $.001. That combined with a continued increase in gas prices does not look good for your tanks. Certainly your fleet fueling program will continue to feel pressure.
Where is the fueling market going to go from here? Higher! Yes, I said higher. This week when your drivers swipe their fuel cards at the truck stop, diesel fuel prices will be up, although not by much. Long term, I think we are close to the peak on the diesel side, but don’t let out a big sigh of relief just yet.
As for your fleet cards, they will still be hurting with high gas prices due to increased demand and the upcoming almighty summer driving season. Even that won’t crush your fuel card purchases too badly. Americans tend to stop buying gas at $4.00 per gallon, so I don’t expect it to get to that point everywhere, only in those states with high fuel taxes. I speculate a peak at $3.85 a gallon in most places.
What is your fleet fueling strategy now? If you’ve planned ahead and have a fuel management program in place, then good for you. However, if you’re feeling the pain of high fuel prices and still uncertain what your next steps are, now is the time to revamp. Let our fleet fuel experts provide a comprehensive analysis and set you up with solutions for success. Don’t settle for reaction — take action. Make the call 267-482-6155.
Tags: diesel fuel prices, fuel card, Fuel Management, fuel prices, fuel tanks
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By Glen Sokolis - March 17th, 2011
Although, I think we could all use a little luck o’the Irish this St. Patrick’s Day. And, who wouldn’t like to find a pot of gold at the end of the rainbow, or at least some extra “green” added to their corporate bottom line? This is especially true for those of us working hard in the fleet fuel management industry. We may be feeling green today, but not as it relates to Ireland and shamrocks. We are just sick. Sick of the uncertainty in the Middle East and subsequent skyrocketing cost of diesel fuel and gas.
Unfortunately, scrambling to react to increased fleet fuel costs and trying to make sense of an unprepared fleet fuel management program are not the only things out there that will make you sick these days. How about radiation and those poor people in Japan? This time last week, they were probably worried about the same things we are when it comes to fueling. Japan is the third largest consumer of oil. Like us, they had seen their fleet fueling costs increase because of the rising price of crude oil, diesel fuel and diesel fuel additives. My how 24 hours changed their view and the world dynamic.
Many fleet fueling programs are going off line along with so many other things. The Dow is down below 11,650 when just a couple of weeks ago it was over 12,350. That is a 6% drop. Throw into the mix that diesel fuel prices increased for 15 straight weeks, inflation keeps edging up, and the housing market is still down. And of course, as I’ve already mentioned, the volatile situation in the Middle East keeps us on the edge of our seat. Who knows what is going to happen there? I don’t. But, I do know that it will affect how much you charge on your fuel card. Thankfully the Saudi’s like us. “Like” might be a strong word, but they do “need” us and we need them. So I believe they will do everything possible to make sure fleet fuel continues to flow out of their country and into ours.
So the fuel keeps coming but we have to pay more for it. Did you know that not all fleet fuel companies are being affected the same by the gravity of all these global circumstances? There are fleet fuel managers who had the foresight to establish great fleet fuel management programs with fleet fuel experts. Their comprehensive, customized systems afford them the luxury of a buffer against the unknown. As a result, there are fleet fuel company presidents, CFO’s and managers out enjoying some green lager today while others are stuck at their desks, just green with envy. And you know who you are.
So on this sunny St. Patty’s Day, let’s hope that we all see a rainbow and a pot of gold at the end of it. After all gold is trading near an all time high.
Tags: diesel fuel prices, fleet fuel, fleet fuel management, fuel card
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By Glen Sokolis - March 7th, 2011
Headlines everywhere screaming gloom and doom; uncertainty in the Middle East, shaky stock market, oil prices up again week after week after week. And to pour salt on our wounds, the EIA (U.S. Energy Information Administration) reported the second largest one-week increase in gasoline prices in past 20 years! This hurts the general public, but is especially painful to those of us in the fleet fuel management industry. People feel stuck, helpless. In the midst of all the bad news wouldn’t you like a glimpse good ol’ perseverance?
Julian Hutton’s article The Power of Perseverance caught my eye as I was flipping through the February issue of Smart Business Philadelphia. Hutton referenced the 19th century German philosopher Friedrich Nietzsche, “That which does not kill us makes us stronger.” And I thought, how true. But, a lot of people just don’t know how to get stronger and lack the tools to weather this economic storm.
Fleet fuel businesses that have solid foundations, are prepared and have strong leadership will survive. Hutton wrote, “Leadership is the single most important factor in any organization. It is the deciding factor between mediocrity and excellence, between success or failure.” How true. Now take a moment and look internally at your own company dynamics. If the corporate leaders and fuel managers at all levels do not have the necessary experience, know-how, or even the time, then the economic punches will always hurt. No need to raise the white flag and surrender just yet. You can survive. You can be stronger. And I can help you.
Consider this. Even if your business leaders are strong and smart, or perhaps you are even one of those excellent leaders; it may still be time to look at outsourcing your fleet fuel management. Outsourcing can maximize employee productivity and increase profitability. Maybe I’m saying something you already recognize; an outside fleet management company may have more time and resources than you and your company. Or, perhaps a light bulb just went on. Please keep reading, especially if you’re still unsure.
Reaching out for expert advice is not a sign of weakness. It is actually a sign of smart leadership. Outsourcing will give you access to a team of fleet fuel professionals who are focused on saving you money. They will be able to establish a custom fleet fuel delivery program that reduces scheduling hassles and lowers your fuel costs by strategically positioning fuel where you need it, when you need it. Their personalized programs can cut on-site and over-the-road fueling expenses through mobile fueling, Card Lock and Truck Stop programs.
A good fleet fuel management company should have a large vendor network and strong negotiating power in order to secure lower fuel prices than you could independently; giving you the huge benefit of even bigger fuel savings. From an administration perspective, the company can also implement custom back-office processes and technology improvements that will produce more significant savings. They can establish and perform fleet fuel audits that identify any pricing discrepancies and possible fuel theft. They actually put your own money back in your own pocket. Money you may not even realize you’ve been missing all along.
Once you acknowledge that it’s time to outsource your fleet fuel management, make sure the company has a tried and true track record of good client relationships; a team of focused, dedicated fuel experts; and fuel buying muscle. It is essential that you established good relationships with trusted experts in all aspects of your business.
Okay, I’ve offered you a lifeline. It’s time to strengthen the foundation of your business. No more just dodging punches. Time to be proactive and put external fleet fuel management systems in place that will immediately start helping your company’s performance. Be prepared and you will persevere.
Tags: fleet fuel, Fleet Management, fleet managers, Fuel Management, fuel savings, Sokoils Group
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By Glen Sokolis - February 17th, 2011
Are you a fleet manager or fuel manager? Are you the president or CFO of a fleet company concerned about your company’s bottom line, again? Are you tired of sitting on the edge of your seat, sweating, worrying and waiting for the Department of Energy to report that diesel fuel prices are up per gallon for the nth week in a row? Accept the inevitable; diesel’s national average price will be what it will be. You can’t control it. It’s out of your hands. However, do not throw in the towel just yet. Take a deep breath, sit back in your chair, roll up your sleeves and empower yourself. Now is the time to gain control over those things that you CAN control. Be your own superhero. Help save your fleet management company. Save time. Save money.
No more feeling helpless, buried under tasks and maxed out on time. No more wondering IF your company’s current fleet fuel management programs are working, or WHY they aren’t. Yes, you are considered the fuel expert for your company, so make an executive decision and steer your company down the road to increased profits and decreased expenses. Reach out to industry fleet fueling experts that have the insight you need to optimize your programs. No more same old, same old. Fleet fuel experts have access to essential industry data and proven performance records that can put you back on track so you don’t have to hold your breath each week. Let the fuel prices do what they will do knowing that you have the power to put your company on solid ground.
A fleet fueling expert can perform a comprehensive analysis of your current fleet management programs and determine what fleet management approach is best for your fleet company’s vehicles. Detailed analysis can determine the best use of your fleet cards or fuel cards, whether truck stops, mobile fueling or onsite refueling is best for your fleet mobile fueling, and if your company would benefit from a fuel saving plan. They can even establish fuel auditing for all your fueling transactions that will raise red flags and stop losses due to theft or simply incorrect fuel charges.
You’re thinking, why would I consider the added expense of hiring a fuel expert when I’m looking to save money? Shouldn’t I, or one of my employees be able to come up with the cost-saving and income-generating policies already? Well, the fact is, at the end of the day, fuel experts can save a company three times as much as the cost of hiring one. And, fleet fueling experts micro-manage the situation for you so that you can focus on the big picture.
Fuel experts are dedicated to monitoring multiple industry variables for you. They build fleet management programs that are specific to your company. Stop wondering how you can do things differently, more profitably. Consult with a fleet fueling expert and start implementing a fuel management program that you can count on. It’s a win-win situation. You save your time and your company’s money. You look like a hero.
Tags: Department of Energy, diesel fuel prices, Fleet Management, fuel audit, Fuel Management
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By Glen Sokolis - February 14th, 2011
The Department of Energy (DOE) just released diesel fuel pricing data that has diesel fuel prices rising for the 10th straight week jumping 7.5 cents to $3.513. It’s the largest increase since December 6, 2010 early in this rise of fleet fueling prices for trucking. This increase puts the diesel fuel price 74.4 cents higher than this same time last year. Is there any good news in the fuel management world or is everything glum?
Well, some good news is that crude oil prices have come down over the past week. Things have settled a little bit in Egypt and it usually takes a solid week or two before diesel fuel prices catch up at retail locations as compared to the open market. In a nutshell, if nothing crazy happens, your diesel fuel prices should be going down to that $3.40 level soon. I know, it’s not great, but it’s still better than $3.513 for fleet fueling this week.
The key right now to most of your fuel management solutions is to get to the core of your fueling programs. If you feel like your fleet company’s understanding might not be up to par, then it’s time for a fuel analysis on the who, what, where, how and why of your fuel management.
Who?: Who is the person in your fleet company’s organization that really has his finger on this? Is it you? Is it the fleet manager? Fuel manager? (Maybe in title only.) Fleet fuel manager? Director? Or maybe, it’s really no one at all.
What?: As in– what does your fleet fueling program look like? “What does that mean?” you might ask. Do you have as many fleet cards or fuel card companies as you do locations? Are you using mobile fueling and not sure why? Or, do you think you should be using mobile fueling but don’t know how to do it? Do you have a fuel saving plan as part of the program?
Where?: Where do your trucks go to buy diesel fuel? Are you using truck stops, card locks or do you have a mobile fueling company coming on location to fuel your trucks where they are parked? How do you know what fleet management approach is best for your fleet company’s vehicles?
How?: How are you going to improve your diesel fuel buying if you already believe you are buying well? Another question is how do you know that you really are buying well? Who told you that? How can you be certain? How do your fueling purchases compare against other fleet companies? How are you going to change your fuel management system? It’s hard and even though it’s a big expense item most companies usually push it to the back burner. How do your fuel cards or fleet cards work? How is the fuel auditing being done on all your fueling transactions?
Why?: Why are diesel fuel additives so expensive? Why does your fleet credit card charge a fee? Why does your fuel inventory never match at the end of the month? Why don’t you see fuel savings when your fleet management keeps putting new fuel management systems in place?
These are very important questions that most fleet managers or someone in your organization should really be looking at. As I have said before, and it might sound crazy, but we talk with more companies that need our help than don’t need help. Most of us have heard the expression that a little knowledge is a dangerous thing. This is diesel fuel buying we are talking about. It’s not time to be dangerous, its time to be smart. Increase your knowledge and get the answers to your questions. There is safe ground to stand on and you can improve your company’s bottom line. Consult with a fleet fueling expert and start implementing a fuel management program that you can count on.
Tags: diesel fuel prices, fleet fuel cards, fleet fueling, Fleet Management, Fuel Management, fuel management systems
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By Glen Sokolis - February 2nd, 2011
It’s 2011 and Sokolis Group is all about helping your fleet fueling program in many ways. I thought we should lend some tips to you fleet managers out there that may be helpful. Here are ten tips for our clients and fueling friends:
- Emergency Diesel Fuel Additives
- It’s winter, and just a few weeks ago 49 states had snow on the ground. Keeping an emergency anti-gel additive in your diesel fuel unit is a good idea. You don’t want that driver on the side of the road waiting for a tow truck. Go with a quality diesel fuel additives program. Call us 267 482 6155 we can help.
- Test your vehicles quarterly
- Make sure to check at least quarterly for bacteria in your diesel fuel tanks. Any of your units that sit around for an extended amount of time would be at higher risk for moisture and bacteria building up in your fueling tanks.
- Keep PM’s scheduled regularly
- At certain intervals based on usage and mileage it’s good to check for preventive maintenance. Taking the proper steps to do this could save you a lot of time and money down the road.
- Lubricate Pins and Undercarriages
- Salt from the winter months along with snow can remove the grease. Lubricating fifth wheels and king pins are a smart move in cold and icy weather. Should be a part of all fleet management solutions.
- Check tires
- Check all tires for the correct inflation. With any tire change in weather also changes tire pressure. This could affect your fleet’s miles per gallon and weight distribution. Don’t waste your diesel fuel with underinflated tires, that would be costly and bad fleet management.
- Make sure your trust and know your fueling providers
- Especially in the winter months, you need to know that you’re getting quality winterized diesel fuel. Bad fuel will gel your trucks and cost you money. A quality fleet fueling program is the way to get it done right.
- Check Fuel Filters
- If your fuel filters aren’t checked occasionally they could be letting dirt and other debris into your fueling tank which will ultimately hurt your engine. And costing you fuel savings.
- Synthetic Oil
- Synthetic oil can boost your miles per gallon up to 3% and take pressure and stress off of your starter.
- Check Battery
- Before cold and warm weather seasons. Batteries don’t typically last more than 6 years. If it’s around that time it might be better to just replace it.
- Seasonal Fuel
- Using the right fleet fuel is important. In the winter if no additive is present diesel fuel will gel at below 0 temperatures. In the warm months performance can be damaged with heat and moisture.
With some of these preventive measures you’ll be sure to keep your fleet in check. You insure your fleet; why not ensure your employees with better maintenance
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By Sokolis Group - January 31st, 2011
Do we sound like a broken record now that diesel fuel prices have gone up nine straight weeks. The cost for your fleet fueling didn’t hurt as much this week with only a .8 cent increase to $3.438 a gallon nationwide. It does make diesel fuel prices 65 cents higher than this time last year. Ouch. Listen here fellow fueling cost watchers. The gloves are off when it comes to where your fleet fueling costs are going to go. One word ok, maybe it’s more like several words. Egypt. Middle East. The increase already in crude prices of $6 a barrel since this new twist to your fleet management budget started to unravel on January 1.
As was pointed out a week or so ago, your fuel management system might get back into shape because crude oil had gone from $95 a barrel down to $86 a barrel, so diesel fuel prices would follow in the next few weeks. Hold your fleet fueling card tight. With crude oil back over $92 as this article is being written, this might be the straw to push the $100 a barrel crude back into the picture.
I know you side line watchers give the old EOR. What can I do with my fuel cards and fleet cards to reduce fueling cost? I think my mobile fueling price is good? We have been using the same fuel companies for years they take care of us. I save, sure, sure, sure and get your head out of the Arab sand.
Let me help everyone with something, when fuel companies, fuel card, fleet card, mobile fueling, major oil companies make the most money? When fueling prices are higher! Why because it is a lot easier to take a couple of cents a gallon on a product that is $3.50 then a product that is $2.75. Fuel card, fleet credit card services, fleet cards they make their money off of a percentage of the sale. Is it better for your fuel card company when fleet fueling prices are $3.50 or $2.75. Figure depending on what fleet card or fleet cards you are using someone is getting paid 1.5% to 2.9% of the sale. Oh yes. What truck stop, mobile fueling company, card lock company can afford to pay 2.9% of the total fueling sale and still remain in business, maybe we should ask WEX. Yes, the same WEX, Wright Express that provides you with all of these wonderful reports, but you need a fuel manager and 2 assistances to review the information because it’s just a whole lot of information. We are not here just to pick on WEX or Voyager. Somewhere each fleet card or fuel card is making money on higher prices. Are your fleet management services going up to because the price of fuel is going up?
Listen, your company is busy trying to make a splash in this economy that is starting to come around. Does your fleet manager or fuel manager really have the time to put together a solid fuel management solutions for fuel savings. Does the fleet manager or his staff get the right fueling data to know which way is up? This fleet fueling market is nuts. The time to take action to get your fleet management and fuel management plan was months ago but don’t ERO it and put it off until diesel fuel prices reach $4.00. Take steps now.
Hire a fleet management consultants, get your fuel management systems in line, make sure your fuel inventory management is working. Trust us. When prices are $2.50 a gallon, you have fuel theft and you probably don’t even know it. At $4.00 a gallon for diesel, you also will have fuel theft and probably not know it either without the right fuel management programs in place.
Tags: diesel fuel prices, fleet cards, fleet fueling, Fleet Management, fleet managers, Fuel Management, fuel savings, fuel theft, mobile fueling
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By Glen Sokolis - January 25th, 2011
It really takes simple math as anything goes up in price it becomes more valuable to steal so as diesel fuel prices have made it almost 60 cents higher than this time last year, the theft of peoples fleet fueling has gone up. Diesel fuel price over $3.40 a gallon have caused increase fueling theft, not to the levels of a couple of years ago but the fleet fueling price isn’t that high yet…
Go on Google news, put in diesel fuel prices, diesel fuel thefts, gas stolen, fueling stolen and you will see in the last few weeks there has been an increase that only fueling theft could like. Who is stealing this fleet fuel out of your fuel management budget? Well, you don’t have to look far. In most cases it’s your own fleet companies employee who decided at $3.50 a gallon it was worth the risk in losing their job. How does someone who works for you steal diesel fuel from you? The list is almost endless. Their own fleet management controls that you can have in place to prevent or at least tip you off that our fuel saving are going out the lack of fuel management window.
Simple steps for controlling your fleet fueling and risk of fueling theft are:
- Fuel card, fleet card, fleet credit cards
- Knowing how to use these fueling cards to provide fleet management solutions
- There are fueling limits, checks and balances fuel cards and fleet cards have
- Your fleet manager, fuel manager or maybe an Outsourced fuel management company needs to review, line by line fueling transactions to ensure fuel analysis and no fueling theft
With diesel fuel prices high the fueling theft could come from your fueling company. The fuel companies might not be delivery what they are saying they delivered if you have bulk fueling or mobile fueling. This is why it is critical that mobile fueling has checks and balances and fuel audits in place. With bulk fueling you need fuel inventory management to make sure your fleet management program is working. As diesel fuel prices go higher so does diesel fuel additives and that to can be stolen right out from under your fleet companies operations. Diesel fuel additives need an inventory system or your fuel savings can be lost on them as well.
Tags: diesel fuel prices, fuel audit, mobile fueling
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