Although, I think we could all use a little luck o’the Irish this St. Patrick’s Day. And, who wouldn’t like to find a pot of gold at the end of the rainbow, or at least some extra “green” added to their corporate bottom line? This is especially true for those of us working hard in the fleet fuel management industry. We may be feeling green today, but not as it relates to Ireland and shamrocks. We are just sick. Sick of the uncertainty in the Middle East and subsequent skyrocketing cost of diesel fuel and gas.
Unfortunately, scrambling to react to increased fleet fuel costs and trying to make sense of an unprepared fleet fuel management program are not the only things out there that will make you sick these days. How about radiation and those poor people in Japan? This time last week, they were probably worried about the same things we are when it comes to fueling. Japan is the third largest consumer of oil. Like us, they had seen their fleet fueling costs increase because of the rising price of crude oil, diesel fuel and diesel fuel additives. My how 24 hours changed their view and the world dynamic.
Many fleet fueling programs are going off line along with so many other things. The Dow is down below 11,650 when just a couple of weeks ago it was over 12,350. That is a 6% drop. Throw into the mix that diesel fuel prices increased for 15 straight weeks, inflation keeps edging up, and the housing market is still down. And of course, as I’ve already mentioned, the volatile situation in the Middle East keeps us on the edge of our seat. Who knows what is going to happen there? I don’t. But, I do know that it will affect how much you charge on your fuel card. Thankfully the Saudi’s like us. “Like” might be a strong word, but they do “need” us and we need them. So I believe they will do everything possible to make sure fleet fuel continues to flow out of their country and into ours.
So the fuel keeps coming but we have to pay more for it. Did you know that not all fleet fuel companies are being affected the same by the gravity of all these global circumstances? There are fleet fuel managers who had the foresight to establish great fleet fuel management programs with fleet fuel experts. Their comprehensive, customized systems afford them the luxury of a buffer against the unknown. As a result, there are fleet fuel company presidents, CFO’s and managers out enjoying some green lager today while others are stuck at their desks, just green with envy. And you know who you are.
So on this sunny St. Patty’s Day, let’s hope that we all see a rainbow and a pot of gold at the end of it. After all gold is trading near an all time high.