Posts Tagged ‘fuel card’
By Sokolis Group - January 16th, 2012
Gas prices have gone up 9 cents already this year. That is almost a penny a gallon a day for that fleet fuel. Diesel fuel prices in Pennsylvania are already over $4.00 a gallon putting pressure on each fleet manager budget.
Pressure on pump prices and possible fuel savings is sure to continue as long as there are issues in the Middle East. The Strait of Hormuz.
Analysts and motorists alike are certain to keep continued watching as their fuel card bills with continue to increase.
What will be the end game? It is anyone’s guess. A solid fuel management program will help keep commercial business spend more in line. As diesel fuel prices will try to eat at their companies profits.
Tags: diesel fuel prices, fuel card, gas prices
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By Sokolis Group - January 9th, 2012
 Look at the chart on diesel fuel prices over the past 3 years. Tell me it’s not scary in trying to figure out where they are going to be next week, next month or 6 months from now. You can’t control what happens to drive diesel fuel prices all over the board. You can control the margin you pay?
Oh yes, you can. Whether the price was $4.71 a gallon or $2.09 or $3.92 a gallon, there was a profit margin that your fuel vendor made from your company. The fuel vendors margin changes all of the time. Would you like to have some control of a large spend like your fleet fueling? What is a fair and reasonable margin that you should be charged?
That would depend on a lot of factors. These would include how well do you understand diesel fuel prices? Who are your contacts in the fuel industry? How large is your fleet of vehicles and how much diesel fuel are you buying?
If I told you that most vendors can make more margin from you when diesel fuel prices were low than when they are high would you believe me? The fact is if you are not watching the market, reviewing indexes, auditing fuel invoices your company wouldn’t know if it is pay a penny to much a gallon or 50 cents to much a gallon. Really, would you know if the invoice is correct or if you believed you had a pricing deal that was over rack. What is rack? Is it the same rack every day? Do you get that rack price? So how do you know? We do know and we know what information is important so you get the best deal, pay a consistent low margin and we manage it for you every step of the way. From fuel audits, to price negotiations, overcharge credits and you don’t have to do a thing. Why?
At Sokolis Group we become part of your fuel department. Most companies can’t afford their own fuel department, heck most companies don’t have the time or expertise! We do and our clients love us for it because we save them thousands to tens of thousands of dollars per month in diesel fuel costs. They get reports, that are very easy to read and summarized. We even create new reports just for them because at the end of the day our clients, are our business.
Have you ever dealt with a fuel card company or large oil company that sold you on bells and whistles. Those bells and whistles are great if you can understand the reports they send you or they call you back in a timely fashion when you have an issue. After all, every company is going to have some sort of issue, it’s how you handle it that separates the great companies that you want as your vendor from the mediocre ones.
Call now…we are waiting to help you 267-482-6155 or send an email to sales@sokolisgroup.com.
Tags: diesel fuel prices, fleet fueling, fuel audit, fuel card
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By Sokolis Group - January 2nd, 2012
Diesel fuel prices tumbled more than 10 cents during the final two weeks of 2011, the Department of Energy reported, as refineries continued ramping up production.
The national diesel fuel price average dipped 3.7 cents a gallon to $3.791 on Dec. 26, which followed a drop of 6.6 cents the prior week. All good for your fuel card so you don’t run up too big of numbers.
Diesel fuel prices since moving back above $4 a gallon during November, truckers fleet fueling has fallen a total of 21.9 cents over the past five weeks. However, the diesel fuel price average is still closed 2011 49.7 cents higher than it was at the end of 2010, according to DOE data. I guess know since we are in 2012 we will have to drop that 2010 comparison so each fleet manager doesn’t get stomach pains when they see the difference between the years.
Crude oil on the New York Mercantile Exchange also remained near the $100 a barrel mark as 2011 closed because of European financial uncertainty and political concerns in the Middle East, Bloomberg News reported.
Despite rising oil prices, Phil Flynn, a senior market analyst for Chicago futures brokerage PFGBest, told Transport Topics that diesel fuel prices were falling because unseasonably high temperatures have been allowing refineries to produce more diesel, rather than heating oil, from distillate stocks. Now there is good news for each fleet manager and their fuel management. It’s fuel savings on fleet fueling without having to work at it. Count that as an earlier present because 2012 will be a rocky each for fleet management.
DOE’s Energy Information Administration also reported that total domestic distillate output was 4.4 million barrels a day for the week of Dec. 16, up from 3.24 million barrels a day the week of Nov. 25.
Despite the positive trend, trucking executives said they were remaining cautious on diesel fuel prices as 2012 began. As well everyone should because fuel savings will be difficult to come by during the year unless you have a proper fuel management approach.
Look what happened in late December, oil rose for seven straight days — and briefly topped $101 a barrel — before declining on Dec. 28 after Europe’s Central Bank loaned cash to several financial institutions to keep credit flowing.
Besides concerns about Europe, Iran’s threats to close the Straits of Hormuz and political upheaval in Russia also were blamed for the fleet fuel price increases.
PFGBest’s Flynn noted that crude supplies at a three-year low in the United States, which also was keeping prices elevated.
See unlike most things crude oil and its little brothers gas prices and diesel fuel prices react to EVERYTHING that goes on in the world. Now is the time to call Sokolis Group at 267-482-6159. Don’t wait until $4.25 diesel fuel card costs. Let us help you get your program running smooth now.
Tags: diesel fuel prices, Fleet Management, fuel card, Fuel Management
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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 Sokolis Group - February 18th, 2011
I wouldn’t expect your fleet fueling prices to fall anytime soon. China ordered banks to hold back more money as reserves in its latest move to control inflation. The government has used a series of interest rate hikes and increases in reserve levels in an effort to slow inflation in its robust economy. This kind of stuff usually helps the markets settle down and keep things like diesel fuel prices from raising. Houston we have a problem. Its call the Middle East, home of sun, fun (if you like getting shot at) and oh yes, oil.
Instability in the Middle East was the biggest worry for most energy traders on Friday. Troops in Bahrain confronted thousands of protesters calling for an end to the country’s monarchy. In Libya, Moammar Gaddafi’s regime deployed security forces and warned citizens against joining the unrest in which dozens of protesters have been killed. Protests also continued in Yemen for an eighth day.
As one person said, “Right now, I think the Middle East news trumps all when it comes to fuel prices.” Meanwhile we keep seeing diesel fuel prices climb and gas prices too. Our fuel card receipts look like mortgage payments. Our fleet management budget is blowing up and it’s only the middle of February. And for some fleet companies they have already seen what $3.60 diesel fuel prices will do to driver that they trust. Yes, fueling thefts are on the rise. Just Google them and you can find that now more than ever, your fleet card controls and fueling audits better remain strong or get strong quick.
We have seen from one fuel card provide sending duplicate fueling transactions from their mobile fueling suppliers. Is it an increase in fleet fueling being purchased or is there a lack of fuel management systems in place at the fuel card company. Needless to say, if you get mobile fueling and its processed through a fuel card service look hard at your fueling invoices, you might see the same mobile fueling transactions pop up twice, like the price of fleet fueling isn’t bad enough to stop you from fuel savings.
Until next time, if you’re a fleet manager and you’re not fully savvy to fuel management, it’s ok. It’s time to be a hero for your company. Stand up make a suggestion that you think under fleet management solutions, you have an idea, that idea is to hire a fleet fuel management firm of experts. Just a call away 267-482-6155.
Tags: diesel fuel prices, fleet fueling, Fleet Management, fuel card
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By Sokolis Group - February 16th, 2011
Diesel fuel prices have been climbing and the trucking industry has felt that over the last few months. We all have seen gas prices go up but how much has it been. Let’s call it a new gas price high for the past 28 months. For simple economic here is a new one, supply is good and demand is weak and gas prices still climb and put a pinch on fleet fueling for companies.
Eight states have gas prices averaging under $3.00 a gallon. Hawaii is already at $3.746 a gallon but hey they get nice weather 365 days a year so it can’t be all bad.
As fleet credit card and fuel card companies report demand for gas has been down. Some of it is probably do to the weather that most of the country has experienced the past month. As fleet management goes for companies running on gas it’s hard to tell what might happen next.
OPIS Chief oil analyst, Tom Kloza sees gas prices in the range of $3.50 to $3.75 by spring. I have heard about spring is in the air but with those kind of fleet fueling prices for gas, I don’t know if I like that air.
In today’s inventory reports by the DOE it was reported crude oil and gasoline had builds in supply and diesel fuel price (I should say supply, you know if supply goes down prices will go up) diesel fuel supply went down. The fleet card companies or fuel cards might say that we aren’t buying as much but with the Middle East changing every day, I think it has most people believing the risk of supply is going higher.
Need help just call 267-482-6155.
Tags: fleet cards, fuel card, gas prices
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By Sokolis Group - January 27th, 2011
No a client of ours needed a fuel management solution 3 years ago, so they came to us for fuel savings, fuel card programs and fueling controls. What they didn’t know was costing them a large amount of fuel saving. This is a major company with a very familiar name but they didn’t understand fleet management for fuel. Our fuel management team overhauled the client’s total fueling program. We switch out fuel cards and put an additional fuel card in place for added fuel saving.
It’s usually difficult for fleet companies operations to have two different fuel cards for the fear of fueling theft but with our fuel management system we are able to do this. They were receiving bulk fueling from a long time vendor and relationships are great but fuel savings is better.
We were able to achieve both with the fuel companies concessions on diesel fuel prices. Our client has been happy with our fuel management program but like most things in life, if you can’t see or feel it daily you wonder if you are really getting what you are paying for.
Late last year when we were doing our normal fuel auditing of invoices that had already been paid by our client, we discover an issue within their diesel fuel prices for their bulk delivery. After more research and review, we were able to get our client a very large 4 digit refund. The fuel companies billing staff had made a mistake; if our fueling audits didn’t catch it, our client’s fuel budget and fuel saving would have been lost. Are you losing money and don’t even know it. Call 267-482-6160
Tags: fuel audit, fuel card, fuel companies, Fuel Management, fuel savings
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By Lisa Hermann - January 26th, 2011
A fuel card or a fleet fuel card is used to make payment for diesel fuel , petrol, fuel and gasoline on gas stations with easy payment mode. Just like fleet credit cards, fuel cards help in making payment of diesel fuel and petrol without using cash. The main advantage of using a fuel card or fleet card is that all the transactions or spending done on private and business mileage can be easily obtained in detailed, easy to access statements through itemized billing to prevent any fraud.
Such fleet fuel cards also prove useful in the security portion as every card is registered in the name of the vehicle or its driver with their name printed on it. With fuel cards – fleet cards the possibility of any fraud or theft is also minimized as the whole record of the route travelled either for official or private purposes can be obtained easily and thus the driver remains careful before misusing the vehicle. Also with fuel cards, fleet managers will not have to give any cash to the drivers as this fleet card also facilitates vehicle maintenance and expenses as part of the fleet management program at the discretion of the fleet owner or fleet manager and thus no extra expenses gets wasted in the process.
This is the reason that fuel cards – fleet cards prove absolutely useful as such firms have to manage their limited capital carefully and make complete utilization of every resource. These fuel cards help them to keep a record of the diesel fuel used in all vehicles and maintain and save their expenses and other taxes in the process. To learn more about fuel cards for your fleet companies operation, contact Sokolis Group at 267-482-6155 or www.sokolisgroup.com.
Tags: fleet cards, fleet managers, fuel card
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By Glen Sokolis - December 29th, 2010
As we have been saying for weeks hold on to your hats because diesel fuel prices will be going higher. Fleet companies main source of fueling is going higher for fuel companies and everyone. Diesel fuel prices will finish the year at $3.294 a gallon based on the DOE records. We believe diesel fuel prices will start 2011 even higher. Right now your fleet manager and fuel manager should be going to executives and say, we are worried that we under forecasted diesel fuel prices for 2011. I know 2011 didn’t even start yet but when I hear a good friend of mine Joe Petrowski, CEO of Gulf Oil on CNBC the other day saying by sometime in January he believe crude oil will be over $100 a barrel and that there is a 25% chance that crude oil will trade over $150 a barrel by Memorial Day. You better stand up and listen. Joe is very smart and just like he said in the interview, higher gas prices or diesel fuel prices does not serve his company or the country any good.
We recall 2008 when crude oil reached $147 a barrel. DOE national diesel fuel prices $4.76 a gallon and gas prices were way over $4.00 it stunk for fleet companies, consumers, fuel management, fleet managers, fleet management services, fleet fueling and just about anything that had to do with fueling except fuel cards. Fuel card, fleet card, fleet fuel cards, fleet credit card services they cleaned up during that time. Higher diesel fuel prices and gas prices are great for fuel cards because they make their money off of interchange fees on the cost of fueling, therefore the higher fuel companies are charging you the more money they are making. There is risk, clearly higher fueling prices and higher prices for diesel fuel additives mean more of a chance of a company paying slow or going out of business.
There is no real fuel savings as part of your fleet management when prices get that high. Sure with fuel management system and fleet management solutions you can cut some fueling costs but if your fueling budget was $3.25 and diesel fuel prices are $4.75 as a fleet manager you have clearly missed your mark. This is not a panic and run article, this is a wake up and listen to someone that knows about fuel management and might be able to help your fleet management programs. Yes, we are talking about mobile fueling, fleet cards, fleet fueling, fleet card services, fuel cards but we are also talking about market fundamentals.
Market fundamentals like why every major commodity has grown leaps and bounds this year but not crude oil. China has 1.4 billion people consuming more fuel each day. The U.S. demand for gas is flat but diesel fuel usage is growing. Now is the time to review not March when it could start to be too late to have a solid fuel management program in place.
Tags: diesel fuel prices, fleet fueling, fuel card, Fuel Management
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