Every Monday, unless there is a holiday, the U.S. Energy Information Administration releases the DOE (Department of Energy) price for diesel fuel across the country.
Keeping up with these changes is a way of life for the fuel experts at the Sokolis Group who have successfully created hundreds of fuel savings plans based on the fluctuations in the market.
How does the DOE determine the weekly diesel fuel price?
The DOE is an important number regarding diesel prices because it is the basis for how most companies calculate their diesel fuel surcharge. On Monday, price data is collected. Samples of cash, self-serve, and on-highway diesel fuel prices (including taxes) are collected from approximately 350 retail outlets across the United States. The prices are collected by telephone, fax, email or Internet from participating outlets. The diesel data is verified and then released around 5:00 p.m. on Monday.
Your Company Can Save Money Against DOE Prices
If you can purchase your company’s fuel at a price lower than the posted DOE, due to negotiated discounts, you can still charge the posted DOE price and capture the difference as profit for your company.
How do you buy better? You need to be strategic on where you’re purchasing your gallons, and you’ll need to consolidate gallons at truck stops. Your diesel fuel prices, if purchased wisely, can be anywhere between 15 and 25 cents a gallon below the DOE weekly price.
The differential range in your diesel fuel prices as compared to the weekly posted DOE should stay fairly consistent.
Let the Sokolis Group Save You Money on Diesel Prices
As your outsourced fuel management team, the Sokolis Group can:
Weekly DOE Diesel Fuel Prices
March 3, 2014
East Coast: $4.155
New England: $4.389
Central Atlantic: $4.354
Lower Atlantic: $3.947
Gulf Coast: $3.793
Rocky Mnt: $3.983
West Coast: $4.038