Fuel Flash – April 2018

During March 2018, crude oil prices traded in a narrow range for most of the month, then started to climb modestly toward the end of the month.  By the end of March, prices gained about 6% from where they started the month.  The following graph shows the daily price movements over the past three months: 

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Pros and Cons of Alternative Fuel Vehicles

Moving away from oil is something being promoted in many areas. One of the debates is the use and production of alternative fuels. For fleet managers, the decision of whether to purchase alternative fuel vehicles means weighing up cost, reliability, and environmental concern.

There are both advantages and disadvantages to alternative fuels, and some things fleet managers should consider:

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Is Fueling Time Impacting Your Drivers’ Availability?

Time is money, how many times have we all heard that? We all know it’s true, particularly when it comes to fleet management. The recent changes to the Hours of Service (HOS) regulations have definitely created some challenges for companies that need to maximize their drivers’ productivity.

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Autonomous Vehicles: When Will They Truly Arrive?

We’ve been hearing buzz about autonomous cars for almost a century now, with the dreams of a self-driving car for everyday use showing up in fictional accounts of the future in the 1930’s. As we saw the promises of other once far-fetched inventions come to fruition, we’ve continued to wait for the reality of an autonomous vehicle. Each year it seems that we are given more exciting updates about the encroaching arrival of truly autonomous vehicles on our streets, but so far test vehicles have yet to give way to a functioning consumer product. 

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Is Your Company Spending 50 Cents a Gallon More Than It Should?

If you use propane to power forklifts in your operations, or other alternative fuels in your fleet, there may be an opportunity to file a Federal excise tax claim for a credit or refund related to the fuel used during 2017. 

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Fuel Flash – March 2018

During February 2018, crude oil prices went on a roller coaster ride following a similar track as the stock market.  Shortly after the start of the month, prices fell by approximately 10%.  Prices remained at that lower level for a brief period and then started to rise again.  By the end of February, prices netted to be about 10% lower than where they started the month.  The following graph shows the daily price movements over the past three months: 

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How Proper Vehicle Maintenance Improves Fuel Efficiency

Fuel costs are a major cost of doing business when operating a fleet of any size. Purchasing new vehicles can significantly reduce fuel cost, but can be prohibitive as a capital investment. Most fleet managers are unable to replace their entire fleet and may continue to operate older vehicles for some time. This means that proper maintenance to improve and maintain fuel efficiency is an important, and cost-effective, way of reducing overall costs.

Here are a few things you can do to maintain fuel efficiency in cars and trucks:

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Do You Qualify for a Fuel Tax Refund?

Throughout the year, Sokolis Group must update its records for all of the changes made to fuel taxes. It’s a tedious task to sift through the information scattered across the internet for each state. Even though there are web sites that consolidate fuel tax rates in one place, identifying potential exemptions takes more research than just glancing at summarized data. That usually means a visit to a state’s site and digging into their tax regulations.

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The Future of Fuel Taxes – What Might Happen as Trucks Become More Efficient

Traditionally, state governments have funded road construction through taxes on fuel. As vehicles become more efficient, though, the income from fuel tax is affected, with long-term concerns that it might eventually become insufficient. An increase in electric cars – and the introduction of electric trucks (Tesla recently unveiled an electric semi-truck) is starting to cause revenues to drop. With more than 90 percent of federal Highway Trust Fund receipts being collected at the pump, this is a very real concern.

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Fuel Flash – February 2018

As 2018 got underway, crude oil prices continued their rapid climb and gained almost 10% during January.  Prices are approximately 25% higher compared to the start of last year and have reached levels that haven’t been seen in over three years.  The following graph shows the daily price movements over the past three months: 

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Continue reading Fuel Flash – February 2018