Every year, the Association of Certified Fraud Examiners reports on the annual cost of fraud. And every year, the number is astonishing, in the trillions.
Vehicle fueling is a prime breeding ground for fraud, because it can be so difficult to monitor. For some employees, the notion of filling up their personal vehicle on the company’s dime is too great a temptation to pass up.
For fleet managers, a fuel card program offers them a way to bring basic accountability to fuel purchases. Continue reading Is Fraud Impacting Your Fuel Costs?
With 21 million people, the city of Lagos, Nigeria is one of the world’s busiest and fastest growing metropolitan areas.
And with all those people comes a nightmarish amount of traffic. “The World’s Worst Traffic Jam,” The Atlantic Wrote in 2012. Things haven’t improved since then.
Reuters profiled Lagos’ traffic congestion in December of last year, describing commuters taking three hours to make a seven mile trip to work. Continue reading $27 Billion Loss: What Does Congestion Cost Your Fleet?
Years ago, companies were hesitant to direct drivers to fuel stop networks. They were fearful drivers would get upset and leave. Today we are facing the same issues we did back then. “Driver Shortage” But, a lot has changed since then. The need for a company to manage their fuel cost has become a necessity and drivers understand this more than they have in the past. Drivers have become accustomed to working at companies that lock down their fuel network. Many companies are using optimizers that give a fuel solution with each load dispatched.
Continue reading Locked Down Fuel Networks
The Department of Energy (DOE) reported that diesel fuel prices fell this week by 4.1 cents per gallon will certainly help some company’s fleet management budgets.
Continue reading Diesel Fuel Prices Down Ease Fleet Management Budgets
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.
Continue reading Gas Prices are Going Nowhere but Up
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?
Continue reading Diesel Fuel Prices, Ups and Downs but Who is Watching?
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.
Continue reading Diesel Fuel Prices End Year at $3.791
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.
Continue reading Diesel Fuel Prices Go Down, But Don’t Get Hopes Up
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.
Continue reading Who needs a pot of gold when you have a great fleet fuel management program?
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.
Continue reading Oil prices rise as Middle East clashes continue