SOUTH PORTLAND, ME – Wright Express Corporation announced it has extended its existing fuel-price risk management program through the third quarter of 2010.
The company recently purchased instruments to cover its anticipated fuel-price-related earnings exposure for the first three quarters of 2010. The instruments are designed to enhance the visibility and predictability of the company's future earnings. The program uses instruments that create a "costless collar" based upon both the U.S. Department of Energy's weekly diesel fuel price index and NYMEX unleaded gasoline contracts. The recent purchase locked in a fuel price range of approximately $3.60 to $3.66 per gallon.
Originally posted on Automotive Fleet