How Do Fuel Cards Save Fleets Money?
If you have a fleet of vehicles, using fuel cards can help you reduce costs. Depending on the card provider, it may offer points-of-sale discounts that reduce the price billed to your fleet at the pump. Some cards also have other perks, like expense tracking and reporting, that can help you spot wasteful spending habits and take corrective action.
If you would like to learn more about business fuel cards, you can do so here .
How Do Fuel Cards Save Fleets Money in the UK?
Fuel cards can provide significant cost savings for fleets in several ways:
Discounted Fuel Prices
Controlled Spending
Reduced Administrative Costs
Improved Fuel Efficiency
Consolidated Billing and Reporting
No Need for Cash or Credit Cards
Access to Wider Networks
Loyalty Rewards
Effective Route Planning
Real-time Monitoring
Compliance and Tax Benefits
Maintenance and Additional Service
Overall, fuel cards offer comprehensive solutions for managing fuel expenses and reducing costs.
The Best UK Fuel Card Providers
Company
Card Fees
Fee structure
Network
BP
£0 – £24 billed annually, depending on card
Competitive savings on fuel
24,000+ stations
Keyfuels
Dependent on customer’s fuel consumption
Fixed weekly tariffs
3,500+ stations
Shell
None
Savings of up to 3p-4p per litre
EV
Shell Fuel
The Fuel Store
£15 per card, billed annually
Fixed weekly tariff
3,500+ stations
Texaco
1p per litre if used at BP stations, otherwise none
Fixed weekly tariffs
Fastfuel
Business
The Right Fuel Card Company
£1 per month
Fixed weekly tariff
1,200 – 3,400+ stations
Diesel Card Ireland
£18 per card, billed annually
Fixed weekly tariff
1,750 stations
WEX Europe
£3 billed monthly or £36 billed annually
Fixed weekly tariff
3,500+ stations
Allstar
Up to £3 transaction fees
£9.99 unused card fee per month
Billed annually or monthly
Fixed weekly tariff
3,000 – 10,300 stations
1. They Save You Money on Fuel.
A fuel card operates like a credit or debit card but is used exclusively for purchasing fuel and diesel. It is a valuable tool for businesses operating vehicles, such as delivery companies or the hospitality industry. They can control how much a driver can buy, reduce the risk of employee theft and track purchase data to highlight unusual buying patterns for corrective action.
They can also help drivers save money by offering discounts on fuel and other purchases at participating truck stops. Many fuel cards provide fleets with robust purchase data at all brand-name stations, including price per gallon, location, driver ID, odometer readings, etc. This gives drivers and fleet managers access to information about fuel purchases, helping them optimise routes for savings and manage cash flow more effectively. They may also remove the need to keep receipts or manually record purchases, making it easier for drivers and businesses to meet HMRC reporting requirements.
2. They Save You Money on Fuel Administration.
A fuel card, also known as a trucking fuel card, offers fleets the ability to purchase fuel and diesel for business use, often at lower prices. They are helpful for businesses that require employees to operate vehicles regularly, such as companies that deliver food or services like plumbing and maintenance. Many cards provide detailed information about each purchase, including date, time and location, along with the driver, vehicle, odometer entry, fuel product, amount purchased and federal and state tax for every transaction.
This helps to streamline accounting processes and makes HMRC filings much simpler. Some cards offer fleets a choice of pricing models, such as retail-minus or cost-plus, and some even offer a “better of” option that automatically selects the best price for each fill-up. These features can help to save money by eliminating wasted purchases. They can also reduce administrative costs by simplifying expense reporting and preventing fraud. Some cards also feature driver support, helping drivers resolve problems quickly.
3. They Save You Time on Fuel Administration.
Rather than submitting receipts to your accounts department and waiting for reimbursement, fuel cards let you pay at the point of sale. And, since fuel card companies buy fuel in bulk, they can offer discounts that save you a few pennies per litre on each purchase. The cards also come with various account tools and access to detailed reports to help you further reduce expenses. They allow you to limit spending on fuel, restrict day and time for authorised refuelling, and even be used for other vehicle services such as maintenance or cleaning. Plus, HMRC-compliant invoicing makes reclaiming VAT much easier.
This can add to savings across your business, especially for owner-operators or those who work on a fixed fee basis, such as delivery drivers, plumbers and maintenance workers or those operating a limo or airport transfer service. This is where the real value lies in a fleet fuel card solution.
4. They Save You Money on Admin.
Many fuel cards have built-in controls to help drivers and fleets control costs. These controls may include restrictions on types of fuel purchased, time or geographical limitations, and the ability to set purchase limits by driver or vehicle. These features help ensure that fuel is only used for business purposes and prevent misuse or fraud. Additionally, some fuel cards offer discounts or rebates on fuel.
This can save money in the long run. Some cards also link to accounting software, which can eliminate the need to keep receipts and simplify HMRC reporting. Finally, many fuel cards provide real-time account updates and a mobile app to manage purchases. This data can be invaluable in tracking expenses, optimising routes and understanding spending habits for corrective action. With all these benefits, it’s no wonder that fuel cards are the smart way to save money on fuel. And that’s good news for every trucker, owner-operator and fleet.
Fuel Cards Save Fleets Money – Other useful links about Fuel Cards:
Factors to Consider When Comparing Fuel Cards
Are Prepaid Fuel Cards Right For Your Company?
Benefits of Fuel Cards for Business
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Hi, I’m Ally Cox, one of the leading Copywriter/Bloggers at CompareYourBusinessCosts.co.uk, a platform renowned for its in-depth analysis and comprehensive comparisons of business services. With over a decade of experience in the industry, I bring a wealth of expertise in areas such as leased lines, VoIP, business energy and office solutions, HR solutions, accounting, and payroll services, among others.
My journey in the industry began over 10 years ago, and my extensive knowledge enables me to provide invaluable insights to our users and customers. Prior to joining CompareYourBusinessCosts, I’ve been involved in various business ventures, gaining hands-on experience in HR and copywriting across a multitude of different sectors, gaining valuable knowledge about everything from clocking in systems to card machines, EPOS systems, payroll services, and so much more.
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