We all have that nagging suspicion about fuel prices and we've all heard the official explanations. But the answer isn't just a simple yes. In fact, the causes and the culprits might surprise you.
| Jack Lee is the President and CEO of 4Refuel Inc., a leader in fuel management. If you have any questions or comments about this article, Jack can be reached at 604/513-0386 or online at asktheexpert@4refuel.com.
Over the past couple of years, the price at the pump has fluctuated a great deal. Only last summer prices reached a point where many motorists were trying to sell their fuel-thirsty SUVs-and having trouble finding buyers. Among businesses, cutting back on fuel expenses was not an option since our production and livelihood are fuel-reliant. All we could do was pay the price and pass on the expense wherever possible to our clients. Fuel had become the largest expense for many industries.
Today, the price we pay for fuel is not as punishing, but like every other operating cost, we wonder if we're paying too much. Unless you're pumping oil in the backyard, you probably are. Or perhaps you've discovered a new concept called Total Fuel Management. Then you'd understand that there's more to fuel costs than what you pay at the pump. A lot more. Let me explain.
Total Fuel Management helps you control and cut fuel costs, guaranteed.
If you run a medium-sized construction company and operate a few trucks and equipment, you are filling up three or four times per week, per unit. That's a lot of time invested in man-hours driving to and from the card lock or your own bulk storage tanks. Each trip takes on average 20 minutes per refueling occasion. If you do simple math, 10 units, 3 times per week, totals 30 refueling trips. At 20 minutes each, you invest 600 minutes, or 10 hours, in labor costs each week just to refuel. Over a month this example is costing you 40 hours-one week's production. That's 40 hours of paid time, plus the lost productivity and profitability you could have earned.
Total Fuel Management allows you to control costs and manage fuel the way you manage other investments like people, technology, and equipment. From acquisition to delivery and from measurement and management of your fuel assets to improving the return on your fuel investment, TFM cuts your real cost of refueling.
TFM delivers fuel directly to your job site and a whole lot more. The competitive pump price includes delivery from tanker trucks to each piece of equipment or your fuel storage tanks. When you use certified refueling professionals, it eliminates the risk and safety threats to your workers and the environment. Since most refueling is done while your equipment is idle, your productivity increases. Professionals do the fill-ups, so there are no dangerous spills causing expensive cleanups. If a rare spill occurs, it is fixed professionally at no cost to you. With onsite refueling of your equipment and bulk storage tanks by an independent fuel management company, theft is eliminated, too.
| fuel Prices Are You Overpaying For Fuel gas Pump
In addition to cutting the cost of refueling and eliminating theft, TFM systems deliver a unique competitive advantage: the ability to measure and manage the return on your fuel investment. Companies that use this system can calculate (by unit) fuel consumption, hours of operation, and other key operating data. An RFID chip about the size of a dollar coin is attached to each piece of equipment for positive identification. User-friendly software delivers these reports to your computer for quick analysis.
Total Fuel Management gives you all the tools you need to cut your fuel costs, and without it, you are paying too much for fuel. In some cases it has saved clients up to 20 percent each month-a nice savings for your bottom line.
