The news will be welcomed by fixed price fuel card holders, who typically pay bunker prices on the forecourts, according to businessfuelcards e-marketing manager, Colin Peters. He says that, when applied to fleets, the significant difference can deliver huge economies at a time when budgets are tighter than at any other time in living memory.
Mr Peters said: "As there is usually only 2p to 3p difference between the two, there has never been a better time to have a fuel card and business users coming to the end of a deal, or who don’t have a fixed price fuel card, must act now. At the very least, fleet managers should investigate how to benefit from the long-term cost savings that current very low bunker prices can offer.
-- Advertisement --
"Those in such arrangements for their diesel purchases could save over £30 per vehicle per month with the most competitive fuel cards. The gap will narrow though, while, in the medium-to-long-term, oil prices will rise ever higher as an economic upturn increases demand."
If a company currently spending £350 on fuel per vehicle per calendar month acquired fuel cards and achieved the 6p a litre reduction, each vehicle would cost £21 less to run.
Over 12 months, this makes for a saving of £252 per vehicle. An organisation with 10 vehicles would retain £2520 per annum, while a 30-vehicle fleet would be an impressive £7,560 better off. Larger operations of 100 vehicles would cut fuel spending by a whopping £25,200 over the year.
Mr Peters added: "On top of that, fuel cards also save companies money through the streamlining of administrative costs and by offering added control over transactions."
For more information visit: www.businessfuelcards.co.uk
