Fuel discount cards are a valuable tool for trucking companies seeking to reduce fuel costs, monitor expenses and prepare for tax reports. Diesel fuel is by far the largest operating expense for trucking companies. When planning methods to reduce fuel costs, fuel discount cards should be an important consideration. Evaluate carefully. The right fuel discount card program should provide significant savings plus comprehensive reporting and security measures to control your largest operating expense.
Fuel expense represents approximately 35% or more of a typical trucking company’s total operating budget. It is also one of the most challenging expense
to predict, monitor and control. The variables are extensive! From poor mechanics to adverse weather conditions, literally anything can impede your
fuel consumption. Spending time and money on equipment maintenance, aerodynamics, reducing tire rolling resistance etc. is essential to fuel efficiency
and reducing fuel costs.
Yet, despite efforts to maintain good fuel efficiency, the cost of diesel is still a heavy burden on your trucking company’s profitability. Overall, the cost of fuel is at its highest since the summer of 2015. Recent disruptions from hurricane Harvey, reduced oil exports from Saudi Arabia, diminishing supply inventories and seasonal adjustments all have their effect on changing pump prices. Smart and efficient trucking companies that implement fuel cost reduction measures to combat this wildly fluctuating expense are better positioned to sustain profits.
Using fuel discount cards can result in monumental savings regardless of fleet size. Because fuel discount cards are considered as good as cash they perform similar to a debit card. Fuel discount cards qualify for the cash price posted at the pump (cash pricing is cheaper than credit card pricing). Further, it provides the client with a significant discount off the posted cash price. Clients receive cash pricing plus an additional discount, rebated monthly. Easy to use, and easy to monitor.
Fuel discount cards provide more than just discounts on the cost of diesel. With the right program, clients can save on fuel, monitor expenses and usage, produce fuel consumption reports as well as IFTA reporting information. Setting up control systems is an important part of keeping your fingers on the financial pulse of your trucking company. Fuel discount cards cards are a valuable accounting tool due to the convenient and comprehensive reporting that they offer.
Not all fuel cards and fleet cards are the same. Be sure you evaluate your options carefully. Contact a reputable financial provider who fully understands the complexities of the trucking industry.
Accutrac Capital is a freight bill factoring company providing industry specific financial services to trucking companies and freight brokers. Exclusive to the transportation industry, Accutrac provides a comprehensive package of services based on years of experience in the industry. The fuel discount card program provided by Accutrac Capital will allow you to:
- Analyze purchasing trends by drivers
- Track and predict cash flow requirements
- Control daily expenditures
- Easily calculate fuel taxes using transactional data
- Protection against unauthorized expenses
- Provide credit terms to qualified trucking companies to defer payments
Beyond the obvious benefits of monetary savings, fuel discount cards also provide expense accountability and transactional control.