Fuel Cards Are Saving Truck Drivers Money on Every Haul
Updated: Sep 14, 2020
It is no surprise to anyone in or around the trucking industry that fuel costs are one of the largest expenses a truck driver has. On top of all other operating expenses, fuel purchases add up quickly, but cannot be avoided. On average, a truck consumes over 20,500 gallons of fuel each year, which can add up to spending around $70,000 per year on fuel.
Luckily, there are options for truck drivers to save money every time they fill up their truck. The best way to save on fuel is having a fuel card. A fleet fuel card provides truck drivers with discounted fuel prices and savings at truck stops and gas stations across the country. At Porter, we provide our clients with a top tier fuel card and fuel card program that saves truck drivers thousands of dollars per year on their fuel purchases. We have put together the top benefits of using a fuel card for your trucking company, so you can really understand just how beneficial they are.
Fuel discounts on every haul
Using a fleet fuel card means that you will never pay full price for fuel again. Whether you are a long haul truck driver or just drive within your state, a fuel card provides thousands of dollars in discounts nationwide. Not only do fuel cards offer $0.25+ off per gallon of fuel at truck stops, but they also have additional discounts on food and drink, tires, maintenance and more, depending on the fuel card program. This is especially beneficial for long haul drivers who spend the majority of their time at different truck stops.
Additional line of credit
Fuel cards can also work as an additional payment method for commercial drivers. Some fuel cards act similarly to a credit card with lines of credit, while others work like pre-paid cards by using fuel advances. Depending on the program, fuel cards can offer a weekly limit for truck drivers to spend on fuel or if they work with a freight factoring company (like Porter), their funds can be advanced directly onto their fuel card as a pre-paid option. If you're using a fuel card as an additional line of credit, it's important to make sure that the credit limit is high enough per driver to avoid exhausting the credit mid week.
Control over fuel spending
A major benefit of fuel cards for your drivers is fleet management. This allows a trucking company owner to manage and monitor all expenses a driver makes for fuel. It is also beneficial for account management as owners can restrict where cards can be used and what the money can be spent on. Owner's have more control over their fleet's spending when using fuel cards. Even if you have a fleet of one company vehicle, a fuel card saves you time and money in the truck driving industry by never paying full price for fuel, and limiting what the card can be used for. Truck drivers will also never have to pay out of pocket for their fuel expenses while using a fuel card, since they are not incurring the cost directly.
Ease of use
Fuel cards offer a mobile app that makes it easier to document and keep up with fuel spending. Drivers will not need to handle fuel receipts as the app will record all purchases made. Truck drivers also won't need to chase anyone if they need to get reimbursed for paying for fuel out of pocket when using a fuel card. A fuel card can make drivers feel secure as they know they will always have money for fuel. Some fuel cards will also track IFTA reporting, simplifying the process for its users.
Having a fuel card is a huge benefit for any truck driver, regardless of fleet size. The more flexible the card is, the more places you are able to use it, and the more discounts you find. Therefore, the more money you end up saving. Fuel is such a huge expense, but it doesn't have to be a burden on your trucking company. Whether you get fuel advances and use it as an additional line of credit, a fuel card can save you thousands of dollars in the long run.
At Porter, we have a 1 truck carrier client that saved almost $4,000 in fuel expenses using the Porter fuel card in the last 12 months. On average, that's over $300 a month in savings, but some months this carrier saved over $600 by taking advantage of the programs and discounts being offered.
For more information on how you can take advantage of our fuel card program and start saving money instantly, learn more here or call us today at (205) 397-0934.