Your fleet drives your business, and your ability to control your vehicles’ operating costs can make or break your bottom line. With that in mind, it’s no surprise that your fuel spend – the second largest operating expense for most fleets – will always be a focal point for fleet professionals even in a time where fuel price volatility is very low.
ARI’s Andy Hall, Assistant Manager of Fuel & GMS, spoke with Automotive Fleet to discuss the latest fuel trends and how these factors influence your fleet’s fuel spend. He begins by touching on the recent trends in fuel pricing volatility and fuel cost. “Generally speaking, fuel prices have been relatively stable. Monthly year-over-year gasoline prices were lower for every month in 2019 as compared to 2018. Diesel was also lower, but not as significantly”.
Even with stable, relatively low fuel costs, proactively managing your fleet’s fuel expenses shouldn’t take a back seat. Your telematics data is a powerful tool to help drive down fuel spend, giving you actionable, real-time insight into your fleet’s fuel consumption. Andy explains how fleet operators are using their telematics solution to control fuel costs: “We continue to see a growing number of fleets embrace telematics as a way to help significantly improve fuel efficiency, and in turn, reduce their fuel spend. Telematics allows fleet operators to monitor driver behavior to ensure they adhere to eco-friendly driving habits, gauge vehicle idling in an effort to combat excessive idling and the associated fuel consumption, and provide dynamic routing to optimize productivity and fuel efficiency”.
For more information on lowering your fleet’s fuel expenses, please read the full article on Automotive Fleet. Be sure to visit our interactive online platform at FleetInAnInvestment.com for more strategies and tools that can help reduce your fleet’s fuel spend.