Fuel for Thought

A Tank Full of Revenue

There is no doubt that fuel prices are the current hot topic. Everyone is feeling the higher prices at the pump. Gas prices in some areas have reached record high levels, the same is true for diesel fuel. At least with cars, a gallon of gas can take you farther than a gallon of diesel can in a truck. For truck drivers, fuel can be one of the biggest expenses. In recent weeks, the price for a gallon of diesel has skyrocketed. This will surely affect the owner operator’s bottom line if it is not considered very carefully. Where you fuel your truck and how you drive will have a huge impact on your fuel costs. 

While it has always been sage advice to compare fuel stops along your route before buying fuel, especially 100 or more gallons of fuel, with today’s fuel prices fluctuating as they are, it is even more critical to shop around. Your old favorite truck stop may not be your best choice for fuel savings. There are several apps you can use to find current pricing in your area or along your route. Consider also that fuel may be less costly tonight rather than tomorrow morning, or vice versa. Always check prices. Never assume one brand of truck stop is always cheaper than another one. Especially if you have a fuel discount program that includes fixed discounts at some locations and cost plus or cost minus discounts at others. Always compare fuel stops, truck stop chains and “mom and pop” fuel stops. When prices are this volatile, you owe it to yourself to shop around. One day a fixed discount will be better than a cost plus discount, while the next day it could be just the opposite.

Once you have found your best priced fuel, now you should look at how quickly you use it. Is there room for improvement? You can lower your fuel costs when you drive more efficiently. If you can still make your delivery on time, perhaps slowing down can keep some of your fuel money in your pocket. Why race to your destination only to wait for the receiver to arrive in the morning? Slow down, save fuel and still arrive on time. 

Now more than ever, planning your time and controlling your expenses are even more crucial to your success. In times of inflation, if you can run your truck at a profit, you are doing well. If you can thrive in the face of inflated expenses, you are doing better than most others. Use this time to develop better habits of controlling your expenses. When the expenses drop again, continue to handle your costs just as you did when times were lean and you will prosper even more.

You may not be able to control the price of fuel, but you do have some control over how much fuel you use and where to find the best price per gallon. Choose wisely. Choose with your head not with old habits or feelings. 

See you down the road,

Greg