When the 2022 fuel surge hit, many truckers struggled to get by with diesel prices escalating to $6/gallon. Many truckers have expressed fear that another surge may be on the horizon, but what story do diesel trends tell?
Diesel Prices in 2023
The last two years have taken truckers on a rollercoaster ride of fuel prices. In 2021, consumers were shocked when fuel prices rose $1/gallon over the year. To the dismay of commercial operators, 2021 was only beginning.
In a whirlwind of volatility, 2022 saw prices rise more than $1.50/gallon and sent a shockwave throughout the industry. As truckers tried to cope with this enormous expense, many tempered their expectations for 2023.
Though fuel prices didn’t improve in the beginning months of 2023, they did slow at the very least. From January to August, prices rose by ~$.50. Finally, in the previous two months, prices have stalled.
Image provided by eia.gov.
With prices existing in a unique state, how can truckers capitalize on this period of stability?
How Truckers Can Save on Fuel Now
Purchase a Fuel Card Today
Should fuel prices rise again, the demand for fuel cards may rise and consequentially raise prices. Now is the perfect time to pick up a fuel card.
Fuel cards help you to access discounts on every gallon of fuel and directly trim your bottom line. Premium fuel cards may also come with additional features, like the ability to secure a line of credit.
Mitigate Rolling Resistance
Did you know that your tires play an essential role in your fuel costs?
Rolling resistance is the measure of how effectively your tires reduce drag, or put simply, how hard your rig needs to work to move forward.
Tires like the Hankook DL21 and Yokohama TY517 are great examples of tires engineered to reduce rolling resistance and save you on fuel.
Plan Routes with Greater Efficiency
One of the best ways to save on fuel is to simply use less.
Nowadays, you can maximize your route efficiency with the help of free AI tools. For a tutorial of AI route planning, check out recent AI article here: 3 Practical Ways AI Can Help Your Trucking Business
Leveling prices can be an encouraging sign for truckers accustomed to pinching pennies. By capitalizing on these ideal conditions with a fuel card, optimal tires and effective route planning, truckers can stay well ahead of trends at the pump.
—
The England Carrier Services (ECS) division offers various services for carriers ranging from maintenance to support. As ECS members, carriers have access to nationwide discounts on fuel and tires from dedicated team members committed to finding the best price. ECS also provides factoring services with benefits such as same-day funding to a bank account or fuel card. These options allow carriers the freedom to focus on growing their business while saving time and money.