Vehicles

Cut Your Costs by Managing Your Fuel

Posted on March 1, 2002 by LCT Staff - Also by this author

One of the easiest ways in which an operator can cut costs is by having a fuel management program. A lot of operators think that fuel is just a cost of doing business. Fuel costs are a major expense. Operators are looking at their monthly P&L statements, scratching their heads and asking themselves, ?I?ve cut back, where?s the expense coming from?? It?s often fuel consumption. Managing your average fuel consumption can save you money daily.

As we all know, fuel prices fluctuate often. So, it?s an expense that is constantly changing for operators. In 2001 we enjoyed the lowest fuel prices that we?ve seen in years! However, they are steadily on the rise again. Now is a great time to implement a fuel management program.

Operators who have larger fleets may have invested in a fleet management program that?s offered by many of the commercial fleet card companies. However, operators who run just one or two cars can benefit from managing their vehicle?s fuel consumption.

Take a minute and think about just how much money you lose on fuel consumption a year. Now, think about cutting that down by 10-20 percent. This can be accomplished by managing consumption.

The first thing you need to do is calculate what you?re spending. We at LCT will help you do this quickly and easily. You can do it online at www.lctmag.com. Once there, look for the section regarding managing fuel costs, and click on the link to the fuel calculator. Just plug your numbers into the various fields and allow it to calculate for you. Now you will be able to understand just how much you are actually spending on fuel and how you can cut back.

One of the first things you can do to save on consumption of fuel is train your chauffeurs to shut off the vehicle when not transporting or preparing for a client. It?s crucial for you to train your chauffeurs on the importance of fuel conservation. They are the ones out there operating the vehicles, so make sure that they understand what they should be doing to conserve fuel. This will help save you money.

You could come up with systems to monitor how much fuel a driver is using on a daily basis. Spot-checking and/or auditing are some suggested methods of monitoring consumption. A chauffeur who knows that you are monitoring fuel consumption is more likely to be conscious of what he or she is doing to conserve.

You?ll see that proper management of your fuel consumption can drastically cut down on your expenses and greatly increase your profits.

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