Fuel Management Archives - Page 2 of 20

$27 Billion Loss: What Does Congestion Cost Your Fleet?

Sokolis Group January 13, 2016

With 21 million people, the city of Lagos, Nigeria is one of the world’s busiest and fastest growing metropolitan areas. And with all those people comes a nightmarish amount of traffic. “The World’s Worst Traffic Jam,” The Atlantic Wrote in 2012. Things haven’t improved since then. Reuters profiled Lagos’ traffic congestion in December of last year, describing commuters taking three hours to make a seven mile trip to work.

Fleets Reduce Cost and Save Time by Outsourcing Fuel Management

Sokolis Group May 27, 2015

Fleet Managers can be certain of one thing; fuel price volatility. Fuel prices have been on a roller coaster that has recently been climbing after several months of significant declines. Volatility will continue into the foreseeable future which makes a Fleet Manager’s job even more difficult. Managing fuel costs to the annual budget set months ago is nearly impossible.

Football has Deflategate, Diesel Fuel has Inflategate

Sokolis Group February 5, 2015

January was another great month for fleets as diesel fuel prices fell sharply again. The average retail price reported by the U.S. Energy Information Administration dropped by 41 cents compared to December. This was the largest decline since prices started falling back in March 2014 and, arguably, it was a bit overdue.

You Probably Haven’t Received Your Full Share of Fuel Savings

Sokolis Group January 9, 2015

For the past few months, we’ve all been watching the price of crude oil decline rapidly. Even when you start to think it’s going to stabilize and can’t go much lower, it goes down even further. As I write this article, a barrel of crude is now trading in the high $40’s which is less than half of where it peaked during 2014.

Crude Crumbles

Sokolis Group December 2, 2014

The old expression, “What goes up must come down” is happening again with crude oil. Over the past several months, we have seen a barrel of crude oil go from $107 back in June 2014 to under $65 earlier this week. And, it doesn’t look like the price of crude oil will be rebounding much higher anytime soon. Fuel purchasers should all be benefiting since the price of crude oil has a direct impact on gas and diesel fuel prices.

The Pump – November 2014

Sokolis Group October 31, 2014

Winter is coming; a reference to Game of Thrones for any of you fans out there. You know the Starks would be preparing, and you should too. Think about last year and how hard it was on your trucks. I’d usually point to places in the North known for the frigid temperatures as a focal point for this topic, but last year it seemed to affect every state. Here are some things to consider while preparing, if you haven’t already:

Do You Have a “Leak” in Your Bulk Fuel Tank?

Sokolis Group July 14, 2014

Many companies have determined that locating a bulk fuel tank in their own yard provides the most cost-effective method for their fleet fueling requirements. Bulk tanks certainly come with insurance and environmental challenges, but they can be overcome with careful planning. It’s also costly to purchase and install a bulk tank, but significant net savings may be achieved compared to alternative fleet fueling options assuming your tank doesn’t “leak.”

The Pump – June 2014

Sokolis Group June 17, 2014

What is more economical for your fleet, a purchasing card (P-card) or a fuel card? It depends on the situation and the makeup of your fleet. Are you purchasing gas or diesel, or perhaps both? Are you a local fleet or traveling over-the-road? Class 8 tractors or pickup trucks? Do you need to report information to IFTA or track transactions for other reasons?

What’s the Cost of Diesel Fuel?

Sokolis Group June 12, 2014

The average retail price of diesel fuel continues to hover near $4.00/gallon. When you look at the total retail price of diesel fuel, it’s important to understand the components of the price to know where there may be opportunities to reduce the cost.

“Keep Your Eye on the Prize” and a Hundred Other Metaphors

Sokolis Group June 3, 2014

Yep, you’ve heard them all. “Don’t take your eye off the ball”, “Success isn’t given, it’s earned” or “A goal without a plan is just a wish”. Every one of those were spoken by successful people.

Category: Fuel Management