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Soaring Fuel Prices Require Strong Fleet Management
16 May 2019
With so many changes in a confusing marketplace, this is a particularly volatile time to be heavily involved within the car fleet industry. Although what you hear on the news may keep you up at night, many of these issues can be solved with a bit of sound management. If you’ve been living under a rock, you wouldn’t know it – but fuel prices have sky-rocketed over the last few weeks.
Over the Easter period (we’re still reminiscing about this break), AA Fuel Price Reports showed that the cost of fuel at the pumps reached a five-year seasonal high. The average UK retail petrol prices were up to 125.41p per litre, equating to 5.41p up from last year, alongside diesel which was 131.97ppl, up 1.65ppl within the space of a month.
As the responsible personnel for your fleet, these shocking statistics have direct knock-on effects for your cash flow. To keep on budget, changes must be made to stay on track and keep drivers motivated. The most effective way to reduce overall fuel costs for your institution is to reduce the number of business journeys made by those within your fleet. If it’s possible to perform shorter journeys with the use of telematics, such as MarshallMatics then your company bank balance will thank you greatly.
Alternatively, performing closer checks on your drivers to monitor their behaviour when behind the wheel could prove fruitful. Identifying the individuals who are regularly paying too much for fuel or driving too inefficiently could significantly help control overhead costs. Adopting additional management tactics such as downsizing or ‘rightsizing’ vehicles to make them more fuel-efficient alternatives can optimise the use of available space while simultaneously improving overall fuel consumption.
At Marshall Leasing, we’re conscious of the ever-changing market and want to help you in your endeavours to get the best possible service for your fleet. To find out on how we can help with all of your fleet needs, and confirm your mileage worries, please visit our dedicated ‘Mileage Audits’ page on our website here, or call us directly on 01480 414541.
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