Fuel Focus: Pandemic Skews Operating Costs But Fundamentals Remain
While 2020 was certainly filled with turbulent highs and lows, one area that remained relatively stable throughout the year was the price of fuel. Even in the face of economic uncertainty, the cost of fuel held steady through much of the year, helping fleet operators budget and forecast cost trends with greater accuracy. But it also goes without saying that the pandemic had a profound impact on virtually all fleet operating costs – including your fuel spend – impacting businesses in a variety of ways.
Recently, ARI’s Andy Hall spoke with Automotive Fleet to discuss the top fuel trends from this year as part of the publication’s annual operating cost special feature. In the series of articles, Andy highlighted that while the cost of fuel itself remained fairly consistent, how the pandemic impacted your organization had a significant impact on your overall fuel spend.
Additionally, Andy offered some best practice recommendations to help effectively control fuel costs, pointing to the importance of a strong fuel policy as well as a comprehensive, well-monitored fuel card program. Andy also shared why a growing number of fleet operators are embracing telematics as a way to improve fuel efficiency, and in turn, reduce your overall fuel spend.
Be sure to visit Automotive-Fleet.com to read this year’s operating cost special report. To learn more about effective strategies that allow you to manage your fleet as a strategic business asset, check out this interactive video series and be sure to subscribe to our Morning Brake newsletter which features the latest industry news and updates.