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As the Department of Energy continues to revise its projections for diesel price changes in 2014 and 2015, there is an increasing likelihood that the drop in prices will not be as substantial as first thought. Fleet owners and single owner-operators will need to employ other methods to ensure ongoing savings on their fuel costs.
Fortunately, there are four major solutions trucking companies can use to manage their fuel costs. Many of the options discussed below can be used in tandem to maximize their benefits:
Use technology designed to increase efficiency. With use of electronic devices rising significantly, it is easier than ever to use technology to save on fuel. GPS and on-board apps designed to track traffic patterns can not only help you find the fastest and most fuel-friendly route to your next destination, but can also warn you of any approaching issues on the road. Being able to avoid snarled rush-hour traffic or skirt around an accident will improve your travel time and save your fuel.
You can also use technology to keep you at a steady speed through turnpike booths and weigh stations, rather than burning fuel by starting and stopping. Prepass provides operators with a transponder that wirelessly transmits their unit’s weight and other information to the weigh station and clears trucks to bypass the station, or notifies them of a discrepancy that requires a stop. Their Prepass Plus program extends the technology to work with E-Z Pass equipped toll stations, so trucking companies can combine their accounts and use a single transponder.
Other apps for smartphones and ELDs can help you find the least expensive refueling stations on your route, saving you even more money.
Optimize your truck’s performance. The simplest way to get the best gas mileage out of your truck is to be sure the truck is in prime operating condition. Make sure to:
- Check tire pressure – tires running below their required PSI will reduce your gas mileage and increase your fuel costs, and can also pose a risk of blowouts.
- Use alternatives to your HVAC – electronic cooling devices can save you from draining fuel by running your unit’s air conditioner.
- Reduce drag by covering your wheel hubs, using aluminum wheels instead of steel, and hitching your trailer 30 inches from the truck.
Adapt driving habits to improve gas mileage. Resist the urge to drive faster than 55 mph on the highway; even if it is legal, each mile over that threshold will lower your fuel economy.
Use a fuel card. A trucking factoring company can provide you with fuel cards that are good at thousands of refueling stations throughout the United States and Canada. Fuel cards offer discounts at those refueling stations, which can make a difference of thousands of dollars in your fuel costs.
Factor Finders’ fuel card programs feature as high as a 50 percent advance when you pick up your loads. Obtaining a fuel card is free as part of the trucking factoring process, and you can receive your cards within three to five business days. Keep your tanks full and your trucks on the road with our fuel cards.
There are several additional benefits to truck factoring with Factor Finders. Contact us to find out more and get started on the path to lower fuel costs today!
