Fuel Cards for a Small Business Fleet
Posted: Nov 16, 2016
Fuel can be one of the biggest ongoing expenses in your small business, so it’s only prudent to closely monitor fuel consumption and spending to ensure that you are getting the best value for your money. A fuel card might just be the solution your small business needs to easily manage your fleet’s fuel usage, costs, and consumption. Fuel cards are available for different kinds of business and fleet sizes, so it doesn’t matter whether you are a small operation or a large conglomerate. The best fuel card solutions can even be specifically tailored for the unique needs and challenges that are faced by small businesses. Here are some of the things you should consider when choosing fuel cards for your small business fleet:
- Where your fleet travels – Some fuel cards have regional limitations while others can be used nationwide and in various stations. Make sure the card works in the areas where your vehicles are likely to go, such as your usual delivery and supplier routes. Also make sure that it is supported by your preferred fuel stations. Learn more about the network of authorized gas stations and merchants that support the card.
- The control it provides – Fuel cards may seem like your typical credit cards, but they are not. Unlike regular credit cards, they come with several features that can make it easier to control your drivers’ fuel spending. Look for a product that lets you restrict card usage. One of the leading fuel card providers offers fleet cards that come with customizable purchasing controls that can help eliminate unauthorized purchases. Make sure the card comes with reporting tools to help you manage all the fuel expenses of your fleet.
- Other perks – Some of the best small business fleet fuel cards can cover maintenance expenses, too. That way, you can easily monitor not just fuel costs but also your fleet servicing expenses.
- Your current fuel expenses – The price at the pump is not exactly what you will have to pay for when you gas up with a fuel card. Some cards will let you batch fuel purchases, and you will be provided with volume-based pricing later. This may help you save money in the bigger scheme of things. That said, you should beware additional fees, requirements, and the interest rates. It makes sense to determine how much you are currently paying for fuel and if is likely to increase, decline, or remain the same in the future.
This article is written by Tom Nutt, a public relations consultant of PR Point. PR Point is a leading global public relations and communications firm dealing with major oil companies and providing counsel and program development.