How long will the fuel freeze last?
Maximising the opportunity to cut business motoring costs
The extended fuel duty freeze announced in March’s budget will not last forever. It’s important that fleet managers and business motorists keep fuel efficiency and cost cutting measures high on their list of priorities.
If businesses make the most of cost saving opportunities, they could reinvest the proceeds for future growth or bring forward payments to suppliers and develop a small financial cushion. Prices will inevitably rise again, and businesses will be better prepared to handle the peaks and troughs.
Here are some key ways to save, allow your business to succeed without compromising on either safety or quality.
1. Use a fuel card
While you can't change the price of fuel at the pump, you can control your fuel spend by introducing a fuel card. With the 'pay and reclaim' model, you often pay at a higher rate than actual costs of fuel, whilst with a fuel card, you pay the actual cost. There are savings to be made in admin time by eliminating the hassle of dealing with the reclaims process by replacing it with a fuel card. You can also control where your drivers fill up by using a fuel card. The RAC Fuel Card gives drivers access to a network of refuelling stations, including lower cost supermarkets.
2. Reduce admin costs with telematics
Telematics lets you track where your vehicles are 24/7 from your smartphone or laptop. This easy-to-install technology provides round the clock tracking of your vehicles, the routes they have taken and how they were driven. Route optimisation and geo-fencing give you even more control.
3. Incentivise better driving
RAC Telematics’ driver score function has been found to save up to 15% on annual fuel bills by monitoring how efficiently vehicles are being driven. Using the information gathered, fleet managers are able to educate business motorists to drive more efficiently by accelerating and braking less sharply and using the vehicle’s own momentum to best advantage. This data can be used to incentivise drivers, while also identifying any training needs.
4. Have the right breakdown and accident management services in place
Don't risk losing money, and even customers, unnecessarily when your vehicles break down or are involved in an accident. Our breakdown service and premium accident management product, Rapid Repair, minimise downtime and get your vehicles back on the road quicker.