Finding Value in Your Fuel Policy with Tony Piscopo
The 2020 fuel market has been unpredictable to say the least, thanks to changes in energy prices and availability throughout the COVID-19 pandemic. It’s hard to know what tomorrow may bring, but if you ask ARI’s Director of Global Product Management Tony Piscopo, he’ll tell you that your fleet fueling habits can still be an investment, especially when considering alternative financial options that impact your long-game.
Tony discussed fuel investments in two recent interviews; with Canadian automotive publication Autosphere and international fleet trade publisher Utility Fleet Professional. He shared his insights into fleet rightsizing and fuel spend, along with the financial benefits of using the right fuel card program for your company.
The key to these decisions is to think of the bigger picture, especially when the economy is looking weary or uncertain.
“You don’t want to make any rash decisions or drastic adjustments, but be cognizant of the reality and analyze the role of the fleet in your business,” Tony said, in Autosphere. He suggests keeping a close eye on your fleet strategy, evaluating conditions regularly to avoid making rash decisions in moments of panic.
Rightsizing your fleet can be a smart long-term fuel decision, as disposing of parked or underutilized vehicles will reduce your fuel costs each month. You can also monitor your fueling policies, building a solid foundation for spend in the process.
Another surprising source of fuel savings? The cards sitting in your drivers’ wallets.
“The backbone of an effective fuel program includes processes to authorize purchases, capture data, control spend and mitigate fraudulent activities, and most fleet fuel cards can help power those initiatives,” said Tony, in his interview with Utility Fleet Professional. Determining what you need out of your fuel card and building a strategy around those needs can help you build a smarter fuel budget for the future.
How are you using your fuel policy to contribute to your overall business ROI? Read Tony’s interview in Autosphere here, and check out his comments in Utility Fleet Professional here, for more advice.
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