Whether you’re an individual carrier or a fleet manager, the benefits of a fuel card program are countless. In an industry that is moving around the clock 24/7, it is critical that your operations are well managed from knowing where to get the best price on fuel to protecting yourself from fraud. Joining a fuel card program helps you focus more on the task at hand and less on your bottom line.
How do fuel cards work?
Essentially, trucking fleets receive a discount on diesel to purchase fuel through specific merchants. Every fuel station offering a card program may have different benefits from the next. However, they all serve the same purpose of saving you money on an already razor-thin profit margin.
How are my savings on fuel calculated?
Fuel savings are typically calculated in one of two ways. With retail-minus pricing, the customer receives a rebate after purchasing fuel at the retail price. With cost-plus pricing, the customer pays a price based on the wholesale cost, plus taxes and a fixed fee.
Some fuel cards provide you with the better deal on a case by case basis, but you’ll often want to compare programs that specifically benefit your regular fleet routes.
The top three benefits of having a fuel card.
1. Access more fuel stations nationwide.
Because fuel is often one of the biggest expenses for fleets and truck drivers, it is where most businesses look to cut costs. This is not the only way truck drivers can save as a cardmember, however. Many fuel card programs, such as our Cardlock Network, may allow you to utilize high-speed and no-hassle diesel pumps across the country. These stations are designed for commercial trucks, with safety and convenience in mind. In this industry, we know that truck drivers want to be back on the road as soon as possible in order to meet their delivery demands.
2. Prevent Fuel Fraud
Such a high demand for fuel can bring out bad actors, making your fleet a target for fraudulent activity. Luckily, the team behind the scenes for cardmembers is constantly monitoring your spending. For example, if you’re a Cardlock Member through Jubitz you can safely run your fleet knowing that our system will decline purchases that don’t meet your profile based on fuel type, location, the time of day, and customized spending limits.
3. Analyze and Control Your Operations
We live in a data-driven world where fleet managers are eager to find ways new to optimize their trucking operations. Thanks to technology, however, there is no need to track down each driver in your fleet for fuel receipts and other records. Many card programs offer comprehensive reports on spending, driver performance, maintenance records, and more. Because trucking is done in real time, managers need information quickly and accurately. Jubitz Fleet Services offers this real time data. You can’t get that kind of reporting from a regular credit card.
Making the most of your fuel card benefits.
The trucking industry is tough, competitive, and costly. Through fuel card memberships, truck drivers can make the most of their time all while saving money. If your fleet hasn’t signed up for a fuel card program, it might not be running as well as you need it to be.