fuel prices – Fuelmate

Take advantage of our free fuel spend analysis

At Fuelmate, transparency is really important to us, especially when it comes to your fuel pricing.

We always want what’s best for fleet operators. Our top priority is giving you comprehensive, valuable insights with which to make an informed decision and choose the right fuel card solution, one that suits both your operational and commercial requirements. To help deliver this, we offer a free detailed invoice analysis and fuel profiling service to evaluate your fuel spend.

Our team of fuel experts create an in-depth report that reviews your existing usage and spend profile and compares it to our range of fuel card brands and wholesale pricing models. The outcome of this report provides recommendations on how you can achieve greater efficiency and savings.

Regardless of the outcome, we want to make sure that our fuel buyers are getting the best from their fuel card provider.

How do I request an analysis?

Requesting an invoice analysis for your fuel spend couldn’t be easier. Simply give us a call on 0800 158 3582. Alternatively, you can fill in our online contact form to book a meeting or request a call back.

When you contact us, we’ll have a quick chat with you regarding your business fuel card requirements and preferences. After we’ve established your needs, we’ll ask you to email your fuel invoices to us for the analysis. We usually ask for invoices covering at least a month, but these invoices can be for whatever period you like. Although the longer the date range, the more comprehensive feedback we’ll be able to provide.

What happens next?

Over the next few days, we review your invoices, cross checking the fuel stations currently being utilised by your business. We identify any surcharges and present cheaper alternatives. These, more cost effective, alternatives can include using a different fuel card at the same station or buying fuel at a close location.

We then email our report on your fuel usage back to you and carry out a consultation meeting to talk through our findings. This report will detail your fuel spend, benchmarked against the wholesale and retail pricing data. It will identify any potential savings when directly compared to your previous spend.

Your report will include a statement, which displays the savings per transaction; a network breakdown to show you your recommended cards; a comparison chart between your current provider and ourselves; and a conclusion to summarise our recommendations for you.

What’s included?

In-depth statement

The statement section of our analysis dissects and displays each transaction and potential saving. You can see your total net and gross savings, giving you a thorough insight into your fuel card options.

Network breakdown

In our network breakdown, we display your current provider and a percentage-based breakdown of much you use each card. We then compare this to your proposed card options.

In the included example, we were able to offer this customer a two-card solution, where previously they’d used three. This means that they will also save money in card fees as well as upfront fuel costs.

Comparison chart

The information displayed in the statement is then conveniently displayed in a handy chart. This lets you know, at a glance, how much you could be saving with Fuelmate.

Overall, our free invoice analysis is a unique service which shows what Fuelmate can do for you. This transparency is not limited to your consultation. It continues throughout your Fuelmate service. We will keep you informed about any changes in your fuel card charges. You will never be in the dark.

Through our range of fuel cards, we provide access to the whole of the UK’s fuel stations. We give you excellent coverage, competitively priced fuel, and a personalised industry leading service. If your fuel card deal is coming up for review, or if you’re simply just curious, it costs nothing to see if you could be saving money with us, so why not call now?

Are Fuel Prices Easing in the UK?

What a week for oil prices…

Fuel prices ease in a volatile week for oil prices

The early part of this week saw a steady fall in the barrel price of oil from the recent high of $139 to just under $100 per barrel, albeit briefly.

This pressure eased partly due to signs that Russia may be willing to have substantive peace talks with Ukraine to de-escalate the current conflict, which will hopefully lead to a ceasefire in the coming weeks.

The market was also closely monitoring the evolving uptick in Covid-19 infections across China. Cases have reached a two-year high, with the virus outbreak expanding rapidly in the country’s north east. This has caused concern that China’s manufacturing output may be affected, forcing a decline in oil demand.

During the second half of the week, oil prices began to rise sharply amid fears posited by the International Energy Agency (IEA). They suggested that the market could lose up to 3 million barrels per day due to supply cuts to Russian oil exports on the back of recent sanctions imposed by Europe and the US. This is far greater than the 1 million barrel of oil per day previously estimated.

In the retail sector, prices at forecourts continue to rise as they play catch up to the recent spike in wholesale fuel prices. However, for fuel card users, due to the wholesale price easing at the beginning of the week, prices are expected to drop between 8-10 pence per litre from last week.

Looking forward:

On Wednesday 23rd March, Chancellor Rishi Sunak will be delivering his spring statement on the health of the economy to the House of Commons and will be addressing the spiralling cost of living. The announcements he will be making will have nationwide effects, so anyone in the fleet and fuel industries need to make sure they’re up to date.

What a Week for Oil Prices…

This week has been a real roller coaster for the oil market.

Oil began the week at $115 per barrel for brent crude, spurred on by the continuing conflict between Russia and Ukraine. This was compounded further by the United States and its allies banning all Russian oil imports as punishment for Moscow’s invasion of the Ukraine. In addition, the market reacted to the threat of Moscow cutting off Europe’s gas supply and oil reached highs of $139 per barrel, the highest since 2008. By midweek, the upward pressure on fuel eased in a volatile trading session, where brent crude fell by 1.2%.

The head of the International Energy Agency described the decision last week to release 60 million barrels of oil reserves, compensating for any supply disruption, as an ‘initial’ response and said more could be released in the future if needed. Pressure from the public on the news further subsisted and the UAE announced it would also increase its output by 400,000 barrels per day.

In terms of UK fuel prices, we are likely to see another week of double-digit increases, with the retail forecourt cost for diesel heading towards £1.80 per litre and, in some areas of the UK, now more than £2.00 per litre.

As you would expect, the outlook for oil prices remains, in the medium term, high against the backdrop of increased Russian aggression against the Ukraine and the West’s ongoing political and economic support of the Ukraine.
If you are a fuel card user with a fixed weekly rate, it would be prudent to top up your fleet before the end of the week as the new, currently rising, prices will come into effect on a Monday.

If you are using fuel cards that use pump price rates, it’s best to shop around fuel stations and check the available rates. There are many tools online with which may be useful, including PetrolPrices to view nearby rates or our own Garage Locator to see the stations in your area. With some selective shopping and considered fuel card use, you may be able to save your fleet some money in a fraught market.