As widely predicted, the Chancellor took the opportunity to raise the duty on fuel by 1.25p per litre in his pre-budget speech on 11th December. This brings fuel tax in the UK to levels not seen before - and there seems likely to be little cheer in the price of fuel in the longer term for hauliers, fleet managers and others whose business is on the roads.
The months leading up to Christmas saw a welcome reduction in the price of fuel, principally due to warmer than usual weather in the USA. However, action by OPEC members to reduce oil output has already resulted in prices beginning to climb once more. In the coming months and years all pointers suggest that the price of fuel will continue to rise - and rise significantly – in response to the ever-increasing global demand for oil.
In these circumstances it becomes ever more important to manage costs. And the best method available to keep fuel costs to a minimum, as well as closely monitoring fuel usage, is by using a commercial fuelcard.
Convenient and cost saving
Fuelcards are much more convenient than yard tanks. Drivers can fill up away from base, and there is no need to tie up capital in fuel and fuel tanks.
Furthermore, fuelcards such as those from Abbey fuelcards provide significant additional savings in security and administration through a simple weekly itemised bill and special features that protect against fraud.
Abbey fuelcard holders are able to purchase fuel from local forecourts at typically 2-3 pence BELOW pump prices, which represents substantial cumulative budget savings, week on week, compared with ‘normal’ fuel costs. In addition, the Abbey discount fuel price is set on a weekly basis, Sunday-Saturday, and is applicable nationwide. So Abbey fuelcards holders know beforehand the savings available, and never have to drive around looking for the best deal in town - or in different parts of the country!
New security and administration benefits
The coming year will also see the benefits of card usage further extended as new technical developments will give fleet managers and owner/drivers even greater security and control over fuel usage.
Innovations will include the ability to limit the number of drawings of fuel per week, or restrict usage to particular days - even down to times of days - so that, for example, cards cannot be used out of normal working hours.
In addition, card management will be in ‘real time’, so that managers will be able to have an immediate view of driver usage (as opposed to having to wait 24/48 hours to track fuel purchases) and will be able to cancel lost cards as soon as the loss becomes known.
Abbey at the forefront
As an acknowledged innovator in fuelcard technology, Abbey is at the forefront of fuelcard developments and offers a range of fuelcards, each designed to meet the varying needs of different companies, from the small local operator right through to large national contractors with vehicles travelling the length and breadth of the UK.
For the best in savings, service and security in fuel purchase and management, discuss your requirements with Abbey fuelcards today.