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 and 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