Many fuel cards exist in today’s market, but there are a multitude of different variables to consider when choosing the most advantageous one for your needs. Fuel prices are unceasingly fluctuating; they’re impossible to embed into your yearly budget because you just simply cannot predict the prices from week to week. So, if you’re an established business that wants to save money and relieve some of that unwanted pressure on your margins, a fuel card may prove to be significant investment.
Fixed Price Fuel Cards
If you’re a business that acknowledges that you accumulate an extensive amount of miles and consume an awful lot of fuel throughout the year, a fixed price fuel card could be a tremendous way to reduce the amount you’re spending. With a fixed price fuel card, the cost of fuel for a designated time period, which can vary from a week to a month, stays exactly the same. This means that even if the price fluctuates in retail terms, you will still be charge the exact same amount no matter what.
Pump Price Fuel Cards
This type of fuel card is very similar to the fixed price variant; the only difference is that you will pay whatever the current price at the retailer is, rather than having a pre-set fixed rate. A pump price fuel card possesses both advantages and disadvantages, as when the price is on the incline you will pay a loftier price, however if the market is very competitive and the price is lower, you may be able to capitalize and pay less. Ultimately, if you are a business that incurs driving costs but doesn’t rack up high mileage statistics each year, this type of card may suit you better.
HGV Fuel Cards
Now, if your business is predominately made up of a fleet of HGV trucks, you’ll want to obtain a HGV fuel card to limit fuel costs. HGV fleets tend to efficiently stick to planned routes to ensure they meet the delivery deadlines when travelling thousands of miles, and will only be able to stop to add fuel at stations that accommodate large trucks. There is a diverse range of HGV fuel cards from multiple reputable brands that offer HGV fleets competitive fuel pricing, alongside conveniently positioned fuel sites so drivers keep route deviation to a minimum.
Car & Van Fuel Cards
Comparable to the HGV fuel cards, car & van fuel cards aim to eliminate wasted money for your business through competitive fuel pricing and well positioned fuel stations, as after all, time and fuel can be a very costly currency in the world of business. Different cards offer different benefits, but most commonly offer rising price protection, convenient stops for the drivers so they don’t travel too far from their original route, no transaction fees and fewer invoices. All in all, a car & van fuel card will save you from delving into unnecessary driving costs.