Monitoring Fuel Prices
Each Monday, the U.S. Energy Information Administration releases the week's Department of Energy diesel fuel price list.
Monitoring DOE prices is just one of the benchmarks Sokolis Group's fuel experts use to find savings for our clients. Another important tool is the Oil Price Information Service (OPIS).
How does the DOE determine the weekly diesel fuel price?
The DOE number is the basis for how most companies calculate their diesel fuel surcharge. Each Monday -- except for holidays -- the department collects data on gas diesel fuel prices from approximately 350 retail outlets across the United States. The diesel data is verified and then released around 5 p.m.
Your Company Can Save Money against DOE Prices
If you can negotiate a discount and purchase your company’s fuel at a price lower than the posted DOE, you can capture the difference between DOE and negotiated pricing as savings for your company.
How? You need to strategize and consolidate fuel purchasing. If you purchase wisely, your diesel fuel prices can be anywhere between 15 and 25 cents a gallon below the DOE weekly price.
As your fuel management partner, Sokolis Group can:
- Negotiate deals with fuel suppliers
- Consolidate & leverage your diesel fuel buying
- Arrange strategic sourcing of your fleet fuel purchases
- Direct drivers to fuel at the appropriate locations
- Be exclusively focused on savings as it relates to fuel purchasing
"Sokolis Group was hired to work to evaluate our current diesel fuel vendors and establish agreements with them for reasonable margins. Additionally, Sokolis Group sourced out new vendors when needed. Diesel pricing is not the core competency of our business, so having Sokolis Group on board gives us a sense of security in this unfamiliar industry. They have achieved savings for our company and they are a trustworthy partner."
Maines Paper & Food Service