5 Tips to Lower Fuel Costs for Small Business

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You’re probably always looking for ways to cut costs as a business. After all, it can be challenging to keep your company financially healthy with so many expenses to consider. One area where small businesses tend to be very cautious about spending money is on fuel. Understandably so! Fuel prices are on the rise, and this has a massive impact on how much businesses spend on it throughout the year. However, as a business owner, you may not realise just how much fuel costs can impact your bottom line if you don’t take the time to analyse them carefully. If you want to keep spending as little as possible on fuel, here are some tips to help you out:

Avoid Idling

Even if you have the air conditioning or heat on inside your vehicle, you’re still burning fuel even when not moving. Even though it’s a minimal amount, it can start to add up if you have to do it for hours on end. Simply turn your engine off whenever you’re not actively driving to avoid idling. If you need to wait for someone, make a delivery, or are simply sitting in traffic, you can save a significant amount of money by shutting off your engine.

Use Fuel Cards

If you’re operating a fleet and need to fill up the tank, you may want to consider using fuel cards. These cards allow you to set a monthly budget (for a set number of gallons) and create a fuel card to track what is being used. This way, you can avoid paying for fuel with a traditional credit card, which often leads to more expenses for your business. Fuel cards are also a great way to budget and track how much you’re spending. If you’re operating a fleet, fuel cards can also track vehicles and monitor their fuel usage. This can help determine which vehicles in your fleet use more fuel than others and may need maintenance.

Look for Alternative Fuel Supplies

Fueling your vehicles via different sources can help you cut the cost of fuel bills. For example, if you work in agriculture, you can purchase gas oil for use on private land or construction sites. Other options include ethanol and biofuels are more cost-effective and efficient methods of fueling some vehicles.

Plan Routes

If you operate a delivery business, you may want to adjust how you plan your routes to get more out of each gallon of fuel. Considering how much weight your vehicle is carrying, the type of terrain your drivers travel, and the vehicle’s average fuel economy can help you find ways to improve your fuel efficiency. One way to do this is by calculating your vehicle’s fuel efficiency rate. Several apps and online calculators can help you determine how many gallons of fuel your vehicle uses per mile. Armed with this information, you can optimise your route to use as little fuel as possible.

Consider Hybrid or Electric Models

Hybrids and electric vehicles indeed tend to cost more upfront than their conventional counterparts. However, when you factor in the long-term savings, it’s easy to see why they’re becoming more and more popular among businesses. Hybrids and electric vehicles can get significantly better fuel economy than comparable non-hybrid or non-electric models. That can save you hundreds, if not thousands, of dollars per year. If you’re looking to purchase a new vehicle, it may be worth steering clear of non-hybrid or non-electric models and instead considering hybrid or electric models.