Several years ago, when I ran a trucking company, I would always dread the lead up to the summer months because I knew that would mean rising fuel costs. Even with the past several months bringing lower than average fuel prices, this year appears to be no different and prices are once again on the rise.
We found that a helpful tool in combating the rising fuel costs our trucking company was facing was to utilize fuel cards. The fuel cards were an easy and efficient way to save our trucking company money all year, every time we filled up and even when we didn’t. We were even fortunate to find a freight bill factoring company based in Utah that funded our fuel cards for no additional charge.
Some of the benefits of fuel cards include:
- A savings of up to $.10 per gallon off of the cash price.
- Receive the cash price even when using the card (that could be another $.05-$.10 savings per gallon from the credit price).
- Discount on 2 load boards per month.
- National tire discount.
- Roadside assistance.
- Online tool to help manage fuel expenses.
One thing to keep in mind when considering using a fuel card is that if the savings look too good to be true, they probably are. We looked into some companies that were promoting $.30-$.40 off per gallon which sounded wonderful. But then when you take a look at where the stations are located that you need to go to, to get those savings it was not worth it. They all seemed to be far from main routes and in out of the way locations. We found it best to stick with a fuel card that gave attractive savings of up to $.10 per gallon off of the cash price and could be used at stations that were conveniently located along our normal routes.