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Are Your Fuel Prices Stuck on the “Sticky Down”?

Diesel fuel prices have been declining for an extended period of time and have reached some of the lowest levels we’ve seen over the past couple of years. Supply has been strong and demand has been modest so it looks like prices will remain lower for a while, at least until we see what the upcoming winter has in store for us.

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The Pump – September 2014

When it comes to fuel, improving efficiency is important, but lowering the price you are paying can have a bigger impact. There are a number of things you can change/try in order to increase efficiency within your fleet and I encourage you to look into them. These things include tires, mud flaps, side skirts, onboard computers, additives, etc. Hopefully, the companies selling these products have goals that align with yours; saving money. However, at the end of the day, you’re still going to need fuel to power your equipment. You can buy less of it which will help, but why not attack the bigger cost first?

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Using the Same Fuel Card for Multiple Vehicles

During an odometer audit Sokolis Group will point out transactions that have the wrong odometer reading. There are many reasons an odometer could be wrong. Sometimes it’s as simple as a typo. But what if the odometer reading is completely wrong. We have found that this is possibly a result of a driver or drivers using the same card for multiple units. It is important to keep drivers from randomly using any fuel card that is not assigned to the vehicle they are driving.

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Card Management Quick-Fixes

iStock_000005311196_Small.jpgIt’s very easy to get sidetracked while multitasking and letting an unrecorded fuel card update pass by that sparks an endless string of errors in the transaction data. Sokolis Group Fuel Management is here to step in to manage a company’s fuel cards by maintaining the data to keep the reporting clean with the most current changes. Inaccurate records create inaccurate reporting, and one small slip-up could cause a lengthy process of unweaving an erroneous web stemming all the way back to the root of the problem.

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Layup For Lower Fuel Prices

“It’s a layup for me to predict lower prices until Columbus Day weekend,” says Tom Kloza, Chief Oil Analyst for Oil Price Information Service (OPIS).

The national average for gas prices are down to $ blank until 9/30 DOE.

The national average for diesel fuel prices are $blank until 9/30 DOE. Read more on diesel fuel prices click

There are many reason why we are all paying less for gas at the pump.

  • Gasoline demand always drops after Labor Day and the summer driver season.
  • This year there is increased supply because overall demand has been down.
  • No major refinery issues, pipeline issues or hurricanes.
  • Clean air quality rules are relaxed in the winter time so refiners can switch to cheaper gas blends.

Right now is South Carolina drivers are paying under $3.11 a gallon according to Wright Express (WEX). Maybe there is hope we could all get under $3.00 a gallon?

Diesel fuel prices should remain flat occurring to most that follow them. Diesel supply is plentiful that the U.S. has some of it highest exports of diesel fuel ever.

U.S. demand for diesel fuel supply continues to remain strong. With crude oil pricing backing down over the last couple of weeks, we could experience a slight decrease before winter spikes with increased distillate demand for heating oil in the North East.