A major obligation of any fleet manager is maintaining high operating efficiency. Fuel costs are estimated to make up around 40% of total operating costs (the greatest portion), so fuel is the obvious place to start. With some savvy investments, you can develop a more efficient fleet fuel management solution this year.
There is little a single organization can do about the fluctuating price of fuel, but there are many ways to reign in spending and improve efficiency. Here are our top six recommendations for 2024:
1. Use Fleet Fuel Management Software
Fleet fuel management software can give you valuable insights for improving fuel efficiency. Breaking down fuel costs by vehicle, fuel type, and route allows you to identify and resolve inefficiencies. While these calculations can be performed in spreadsheets, it is a time-consuming and error-prone process. As your fleet grows, so too does the accounting and maintenance of connections with data sources. Fleet fuel management software lets you see fuel usage in real time and displays it in helpful (and easy-to-share) graphs.
Some fleet fuel cards give you access to a built-in management system.
2. Use Fleet Telematics for Real-Time Driver Behavior Data
Another key element of any fleet fuel management system is fleet fuel tracking telemetry. Fleet telematics use GPS and vehicle sensors to collect a wide range of data useful to fuel management. Here are some of the benefits:
- Promotes safe driving: Telematics give details on speed, cornering, braking, and acceleration behaviors. Good driving behavior can lower gas mileage by up to 40%. This data gives managers the data to identify and train drivers with bad habits.
- Reduces idling: Idling can use a quarter to half a gallon of fuel per hour. This data helps managers enforce idling policies.
- Finds the best routes: Obviously, a major part of fuel costs is mileage. Telematics help you find the best routes and reroute vehicles that can accommodate additional capacity most efficiently.
3. Stay on Top of Preventative Maintenance for Fleet Vehicles
Preventative maintenance is necessary for any fleet, but did you know it has been shown to save 5-10% of fuel consumption? Early detection and resolution of issues help ensure maximum efficiency in each vehicle. Create and stick to a strict schedule of key services like oil changes, tune-ups, tire pressure checks, and wheel alignment. Additional benefits of a good maintenance schedule include:
Fewer accidents
Fewer major repairs
Less downtime
Successful compliance tests
4. Improve Fleet Aerodynamics
Aerodynamics, the interaction between the shape of the truck and the air, has a significant impact on fuel efficiency. There are several measures you can take to reduce the drag eating up your fleet’s fuel.
- Aerodynamic wheel covers are an inexpensive way to get a small boost
- Adding tailor skirts and boat tail fairings can reduce drag by an impressive 25%
- Upgrading and replacing vehicles is the largest investment and can net the greatest improvement in aerodynamics
5. Use Fleet Fuel Cards
Adopting fleet fuel cards can significantly reduce your operational costs. They provide access to competitive fuel prices across a wide network of stations, ensuring you get the best value for every gallon.
Plus, with the convenience of cost-effective maintenance services at your fingertips, you can keep your fleet running smoothly without breaking the bank. These cards also streamline fleet fuel monitoring, enabling you to track and control your fuel expenditure effectively.
World Kinect fleet fuel cards provide access to the largest cardlock network in the U.S., with 300+ World Kinect cardlock fueling locations and access to over 3,000 CFN (Commercial Fueling Network) sites. Fleet fuel cards allow you to keep tighter control over fleet spending while increasing the number of convenient fueling locations available (allowing for more efficient routes).
All of these benefits can add up to savings across fleets of any size.
6. Consider Electric and Hybrid Vehicles or Alternative Fuels
Electric, hybrid, and alternative fuel vehicles offer significant potential to reduce fuel costs depending on the load carried and the duty cycle. Electric and hybrid vehicles, with their reduced fuel consumption, can lower operating expenses and reduce carbon footprint, contributing to environmental sustainability.
Alternative fuels like renewable diesel, biodiesel, natural gas, and hydrogen present an opportunity to decrease reliance on traditional, often more expensive, fuels. This not only results in cost savings but also promotes energy diversity and security. As a result, these innovative vehicle technologies can be a wise investment for sustainable growth.
World Kinect Fleet Fuel Cards and Fuel Advisory Tool
At World Kinect, we offer versatile fleet fuel cards designed to streamline your fuel management and reduce operational costs. Our cards provide access to a vast network of fueling stations, ensuring competitive pricing. We also offer a comprehensive fuel advisory tool that evaluates your fleet's fueling needs and can guide you to an optimal fueling solution. With our deep industry expertise, we deliver comprehensive solutions for any fueling need. You can trust World Kinect to be your reliable partner in optimizing your fleet operations.
