Best Ways to Cut Down Fuel Costs in Trucking Companies
As fuel prices continue to rise, trucking companies must find better ways to cut down their operating costs. Discover the best strategies and techniques that you can use to reduce your fuel costs and keep your business profitable!
It has been essential for businesses to reduce the cost of their commercial truck vehicles. One main area of focus is cutting down the fleet fuel expenses. For commercial trucking fleet companies, fuel is by far the greatest operational expense; according to some sources, fuel makes up over 60% of fleet operating costs.
Many commercial trucking companies find it arduous to keep control of fleet expenses. A few improvements in some areas can add up to huge savings, providing you greater leeway with your operations budget. Trucking companies can significantly reduce fuel costs by implementing fuel-efficient driving practices, investing in fuel-efficient vehicles, and hedging against fuel prices.
Here are some steps to cut down your fleet fuel costs:
BETTER WAYS TO REDUCE FUEL COSTS
Track fuel consumption by vehicle & driver:
You can track the fuel in the vehicle that adds up based on weekly, monthly, & annual. Tracking the fuel information aids in understanding what would be the future fuel costs. Additionally, you might be able to locate drivers who need more training or inefficient vehicles that need to be maintained.
Get gas at less expensive stations:
The cost of fuel can differ greatly depending on the location, particularly when driving through different cities and across state borders. There are various mobile apps, websites, and communities that can aid in monitoring gasoline costs across different areas. Make sure to coach your truck drivers to fill up while in the least expensive areas, even if your tank is not empty.
Help drivers optimize their vehicle speeds:
Despite the fact that different vehicles have a variable top fuel economy, gas mileage drastically drops above 50 mph. In fact, every 5 mph beyond 50 mph can result in a $0.30 to $0.61 per gallon rise in gasoline costs (or higher, depending on fuel prices). Speed reduction of 5 to 10 mph can increase fuel efficiency by 7 to 14%. By using a cutting-edge telematics system that sends notifications to drivers, fleet managers may encourage their drivers to drive more cautiously and at fuel-efficient speeds.
Train & Incentivize Truck Drivers:
Fleet managers should regularly train drivers about the fundamentals of fuel economy, such as the best ways to control fuel consumption, fuel-efficient driving techniques, and the significance of minimal idling. You can also give training on how to use fleet telematics that help them to take real-time action when necessary and regularly track their fuel-saving performance. As well as, incentive programs can inspire drivers to achieve important fuel economy targets and milestones.
Provide Tools to Reduce Idle Time
Telematics systems can assist truck drivers in avoiding excessive idling by giving them access to a dashboard that monitors their idle time. However, it’s important to remember that truck idling often occurs as the drivers want to feel comfortable driving - especially in extreme weather. Also, ensure to establish fleet idling targets that allow drivers to strike a balance in fuel efficiency.
Keep vehicles well-maintained:
Fleets that adhere to preventive maintenance schedules can boost fuel efficiency by 5% to 10%. When it comes to manual driver vehicle inspection reports (DVIRs), there are a lot of possibilities for human mistakes, but a sophisticated telematics system ensures that vehicles are well-maintained on a regular basis. Telematics systems offer dashboards for real-time insights into fleet vehicle health to prevent problems before the truck consumes too much fuel.
High fuel costs will continue to pose challenges to commercial trucking profitability. Since trucking companies couldn’t lower the fuel price per gallon, the cost-effective option is for truck drivers to mitigate how much fuel they use. Give your truck drivers the keys – both literally & figuratively by regularly engaging them with the appropriate data & coaching when and where they require it. Fleet performance management solutions, which focus on drivers, can assist your trucking companies in enabling truck drivers to improve fuel economy on every trip and over time through automation.
FRAIKINDAYIM – HELPS REDUCE FLEET FUEL COSTS
At Fraikindayim Trucking Company, we strive to ensure that our customers are always satisfied. We understand that reducing fleet fuel costs is a significant factor in running a successful business, and our mission is to help you do just that. Our commitment to providing quality service and excellent customer service makes us a trusted choice when it comes to reducing fleet fuel cost. We also enhance driver retention rates, increase safety, and improve fuel efficiency. Our technology, which operates through the cloud, is capable of monitoring and analyzing data related to vehicle dynamics, fuel consumption, and truck driver performance, providing accurate reporting and solutions.
Contact us today to find out more about how we can help reduce your fleet’s fuel costs and get you on the road to success.