New technology an option, but surcharges cut down fuel bill: Survey
NEW YORK -- Fuel purchasing is becoming a bigger challenge, while environmental issues will play a larger role in fuel management decisions, according to fleet executives who took part in a recent survey from Eyefortransport. The "Fuel Management for Fleets" 2008 Report surveyed more than 300 North American fleet executives over two years to learn about the concerns and strategies of those in charge of fueling fleets. Heavy Duty Trucking reports that the survey revealed traditional fuel purchasing strategies are still the most popular, with 26 percent of respondents relying on negotiations with suppliers; 17 percent negotiating with fuel card companies, and 14 percent creating and implementing a fuel-buying plan. Appointing a fuel manager, setting up a limited network, implementing the latest price gathering technology and using risk management (hedging) strategies are still relatively low on the list of active strategies, but are on the rise. While fleets hope to alleviate higher fuel costs in the future with more fuel-efficient equipment, aggressive fuel efficiency programs, bulk fuel purchases and alternative technology, and possibly hybrids, fleets currently rely heavily on fuel surcharges. Eyefortransport reports that 18 percent of respondents in 2007 and 28 percent in 2008 say they offset all fuel price increases with customer surcharges. A further 39 percent in 2007 and 31 percent in 2008 said they cover at least some of the price hikes through fuel surcharges. Surprisingly, in an age of volatile fuel price hikes, about a quarter of respondents each year said they still don't use fuel surcharges, but 7 percent said they were considering doing so. According to the 2008 survey, a combined 76 percent of fleet executives rated environmental concerns as being either "very important" or "a top priority" in their fuel management decisions. -- from Heavy Duty Trucking