Increasing fuel prices are squeezing the business everywhere. Many fuel procurement offices and businesses shammed that if they could climb a few hard years, the costs of fuel will ultimately get stable. That assumption is proving to be wrong. Believe it or not, but the high prices of fuels are here to stay.
For independent holder- operators all around the world and the fleet managers, adequately administrating the costs of fuel will be condemning in the coming years. But, fortunately, there are some options with these companies by which they can cope up with the rising fuel prices. Given below are 3 strategies which the companies can use to lessen the brunt of high fuel prices on their base line.
1. Reform purchasing of fuel
In extension to the rising oil price, the market has also matured to be very volatile. Fluctuations of 5 cents per quart in a day are pretty common in today’s date. Frame-working some parity in the fuel acquisition can help armada in making smarter decisions of purchasing. There are several options to achieve this but the one which can help the smaller fleets is “360 Small Business Fleet Card”. The card endeavors 1 percent reserves at the fuel pumps at about nineteen thousand stations around the world.
2. Better fleet management
Although there are so many thrilling technologies coming up in the market every day, like the eco-friendly engines and the aerodynamic motor homes, these can be very expensive to invest on. Rather, get a highly efficient driver to handle your vehicle.
3. Fuel shift
One good option to save on petrol price rising is to shift to some other fuel like hybrid, non-motorized vehicle, CNG etc. This is the smartest and the most effectient way to saving on rising petrol prices.
4. Modal shift
You can go for the shift in your mode of transport. May be, choose to travel by rail transportation that the road ones.
5. Energy efficiency
Vehicle fuel recession standards
6. Demand side administration
You can ask for carpooling etc.