Look for your fleet fueling prices of diesel fuel prices and gas prices to take a turn down over the next couple of weeks. A lot of action is happening in the oil world. Fuel prices were falling several dollars a barrel already this week which is good news to your fuel management programs. Then what I believe was a little out of the blue, the U.S. Strategic Petroleum Reserve decides to release 60 million barrel of oil over the next 30 days to help reduce fuel prices. Wow! Lower diesel fuel prices please to meet you. For some companies this might be the difference between having a good year or having a poor year. A company’s fuel management solutions are usually the keep to help drive lower diesel fuel prices.
What could happen next? I think we are going to see low to mid $80 a barrel for crude oil. This will make all fuel managers happy because the pressure has been on those guys since diesel fuel prices started to increase. Fuel savings over currrent levels should be enjoyed by all except the major oil companies. It also is probably a good time to take a look at possibly hedging your diesel fuel price for the future. Times might get good now but I don’t believe we will continue to enjoy lower fleet fueling prices for long. Make sure your fuel manager is reviewing all details to put you in a winning position. Your fuel management system should always be changing.
When was the last time your company reviewed its fleet fuel card, fuel cards, mobile fueling or fleet credit card. If it hasn’t been in the last couple of months its time that someone in your company starts to look at this. You need to be proactive and not reactive to fuel card changes, fleet fueling costs and fleet manager ideas.