Strategic fuel savings for fleet management
Manage your fuel spends more effectively
In today’s competitive business landscape, fluctuating fuel prices can pose significant challenges to your fleet’s operational performance. This page explores strategic approaches to manage and reduce your fuel costs, drawing from successful practices across Europe. Key topics include fuel-saving techniques and the role of technology in helping fleets operate with greater fuel efficiency.
All you need to know about fleet fuel savings
Understanding the dynamics of fuel costs
Fuel has always been one of the highest operating costs for fleets, a fact emphasised by volatile prices over the past few years. On average, fuel can represent a third or more of a fleet’s total cost of ownership.
If your fleet operates internationally, managing your fuel costs can be even trickier, since fuel prices vary significantly by country. Supply issues, natural disasters and political turbulence can all affect pricing.
Global insights on fuel prices
In terms of recent pricing fluctuations, the year 2022 stands out. Global oil prices rose dramatically in the early part of that year, reaching their highest level since 2008. According to the International Road Transport Union, diesel prices jumped 33% between February 2021 and March 2022 alone. In the UK, the cost per litre was €2.12, or roughly £1.79.
A slowdown in the global economy ushered in lower diesel prices in 2023. By late June 2024, data from uk.gov showed UK diesel prices at £1.50. While fleets can’t predict what future fuel prices will look like, they can count on one thing: changes are bound to happen.
Effective strategies for fuel cost management
In running a fleet, you know that getting more control over your fuel costs is imperative. Here are five of the most effective strategies to rein in your fuel costs:
- Fuel-efficient driving: Driving habits around speed, idling, gear shifting, coasting and cruise control determine your fuel consumption. Adopting more fuel-efficient driving habits across your fleet can be a game changer.
- Dynamic route planning: Even the best driver can end up using more fuel than necessary if they’re on the wrong route. With navigation tools, you can plan around traffic jams, construction zones and bad weather conditions.
- Regular vehicle maintenance: A roadworthy vehicle is a more fuel-efficient one. Schedule in regular maintenance to keep the engine running smoothly — while also preventing unexpected repairs and downtime.
- Tyre performance: Having the right tyre on your vehicle can make all the difference in reducing fuel costs, as can maintaining the right tyre pressure and preventing slow leaks.
- Monitor your fuel consumption: Track how your fleet uses fuel. Keep an eye out for trends and anomalies, and then take the appropriate course of action to save fuel.
Boost your fuel-saving potential with technology
Fleet management software can make it much easier to stay on top of fuel costs. Here’s a quick preview of what you can do with a fleet management system like Webfleet:
- Monitor driving performance and give drivers active feedback in real time
- Optimise routes according to vehicle type eliminating backtracking because of closed roads or low bridges
- Set maintenance tasks based on real-time mileage information rather than a set period of time
- Monitor the temperature and tyre pressure for every tyre on your vehicles
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