5 Ways Your Company Can Survive Rising Fuel Costs Budgeting to allow for fluctuation at the pump is far easier with these strategies.

Some line items in a corporate budget are predictable. But with the price of gas all over the map this year—reaching a peak price of about $5 in June—it's an expenditure that's been on the minds of all business leaders as of late, and particularly those who rely on vehicles to deliver goods and services.

Whether you're a florist or plumber, or a food and beverage provider, your enterprise likely requires transportation to meet your clients' needs. Even business leaders in the service industry are putting their salespeople back on the road (Deloitte predicted that corporate travel would be at 55% of pre-pandemic levels by Q4 2022).

When fuel prices increase, it puts a strain on the overall health of your business. And while business leaders and owners have no control over the cost of gasoline and diesel fuel, as it's governed by many different geopolitical and environmental factors, they can find ways to manage their costs with the right tools. Here are five ways to keep track of your fuel costs and save money while still providing excellent customer service.

1. Use fuel cards. Fleet owners and logistics providers are familiar with the convenience and saving potential of fuel cards, but not all business leaders realize how valuable they can be. Fuel cards by Fuelman are accepted at 60,000+ gas stations and maintenance locations nationwide¹, making them essential for any business that reimburses or otherwise pays for the gas their drivers use. Importantly, they're also incredibly simple to use—iFleet user interface support, available during business hours, can solve technical problems or assist with reports, card maintenance or other questions. Best of all, users can save 8¢ on diesel and 5¢ on unleaded at 50,000 locations included in Fuelman's Discount Network.²
2. Identify alternative options if prices are too high. Brian Peters, president of packaging and container supplier Peters Supply, says the company saves money by analyzing the costs of conducting delivery on their own vs. engaging a third party. "We used to put nearly every order on our vehicles for delivery," said Peters. "With diesel costs at nearly $6 per gallon, now we compare the cost on our vehicles to using third-party freight carriers."
3. Use driver telematics to reduce fuel costs. Rashid Galadanci, CEO and co-founder of Driver Technologies, recognizes the value of gas cards in allowing fleets to control costs and also provide volume discounts. Another way for company leaders to manage their gas expenditures is to use dashcams and fleet management devices and software to identify driving behaviors that could lead to unnecessary gas consumption. "These platforms can monitor and coach drivers who aggressively hit the brakes or speed, as these behaviors tend to consume more fuel. These tools can also suggest routes with less traffic and less starting and stopping," Galadanci said. "There are plenty of low-cost, software-first solutions that can help fleets to improve fuel efficiency and reduce costs while also increasing safety."
4. Better optimize deliveries and trips. In this highly competitive market, companies are in a perpetual race to efficiently deliver materials and finished products to their customers. And while that's a big value add for consumers, it could lead to drivers taking routes that burn more fuel than necessary. Everything is a trade-off, but try to identify delivery routes that minimize time on the road. If you have a Fuelman Mastercard, you can rest easy knowing your drivers can use it anywhere Mastercard is accepted, enabling them to conveniently gas up along their way.
5. Empower your employees. While technology and simple fixes like Fuelman fuel cards help counter many forms of diesel and gas waste, savings can also come from human ingenuity. You might challenge your employees—potentially offering a bonus—to identify ways to keep fuel costs at bay. Your team members could help you redraw a delivery map, cut down idling time or find better ways to pack trucks and vans to maximize delivery load. Launching a dedicated effort also gets your team invested in helping the business save, particularly if a winning strategy is rewarded.

How to control fuel expenses is the kind of quandary that can steal your sleep. By using a few cost-management tactics, such as equipping your employees with a fuel card by Fuelman you can avoid the stress, as well as the headaches of manual expense accounting. When you use cards by Fuelman, you can access all-in-one fuel expense tracking—no need to deal with cash, checks or paper receipts. Combining gas cards with other best practices can help you keep an eye on your fuel costs and save money when possible, so your business can stay on track for success, regardless of what prices do at the pump.

Start controlling gas costs at your business. Learn more about the Fuelman fuel card program here.

Disclaimers:

1. Fuelman discount sites can be found at www.fuelman.com/sitelocator. Rebate is not available on purchases at Chevron/Texaco, ARCO, Pilot, Wawa, Walmart/Sam's Club, Love's, QuikTrip, Kum and Go, OnCue and Buc-ee's. Transactions at ARCO are subject to pricing surcharge. Rebates are subject to forfeiture if an account is not in good standing. Savings will be reflected as a rebate on your billing statement, in the form of a statement credit. Rebate offer valid for first 12 months after account setup.

2. Fuelman sites can be found at www.fuelman.com/sitelocator.