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Fuel Management

WEX Updates Data Platform for Fuel Management

WEX Inc. has launched ClearView Snap, the next evolution of its ClearView data analytics platform that offers fleet managers and administrators emailed insights into fleet expenses.

Chevrolet Offers Fuel Payments From the Dashboard

Chevrolet will allow drivers to pay for fuel at participating Shell stations using a mobile app in the vehicle's infotainment system with a new electronic payment solution, General Motors has announced.

GM Enables Fuel Purchases From the Dashboard

Drivers of General Motors vehicles will be able to purchase Shell fuel and other products or services from their dashboard using a new digital platform known as GM Marketplace, the automaker has announced.

Operating Costs Remain Flat for Fifth Consecutive Year

Fleet operating costs remained stable in CY-2017, primarily due to the lower volatility of fuel prices. But, there is upward pressure on maintenance labor rates and higher commodity prices that will impact the cost of replacement tires.

Fuel Card Fraud Is on the Increase

Since 2016, there has been an ongoing uptick in fuel card fraud. In light of this, it is important for companies to develop a fraud prevention strategy addressing misuse, slippage, and outright fraud.

Forecast Is for Fuel Prices to Remain Low for the Foreseeable Future -- Maybe Longer

Conventional wisdom in the fleet market is often wrong. If we roll back the calendar, the conventional wisdom about fuel prices was that there would be ebbs and flows in price per gallon rates, but the overall price trajectory would trend upward. The flaw with conventional wisdom is that it only works when no new variables are inserted into future projections. A case in point is the shale oil revolution, which now has experts predicting oil prices will remain flat for the foreseeable future.

Ways to Reduce Fleet Fuel Costs

Even with the current low cost of fuel, fuel continues to account for a large percentage of a fleet’s operating budget. Today, there are a number of strategies companies can implement to reduce the amount of money spent on fuel.

Derive Efficiency Hosts Track Day

On March 3, Derive Efficiency hosted a track day for public and private fleets and the media, showing the differences in performance between a stock vehicle and one calibrated for optimum efficiency.

Operating Costs Flat for Fourth Consecutive Year

With fuel representing 60% of a fleet’s total operating costs, lower fuel prices are keeping overall fleet costs flat. Also, vehicle build quality is high, curbing maintenance costs, and lower commodity prices have stabilized tire prices.