As businesses continue to rely on large vehicles for transportation and distribution purposes, fueling costs have become a major concern. With the price of fuel constantly fluctuating, fleet managers must find ways to ensure efficient fuel consumption while maintaining optimal performance. This involves careful budget planning, regular maintenance checks, and utilizing technology such as GPS tracking systems to monitor fuel usage. In addition, alternative fuel options such as propane, electricity, and hydrogen fuel cells may offer long-term cost savings.
Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left of your screen to receive notifications as soon as the episode publishes.
Data for today’s episode is provided by Javelin Strategy & Research’s Report: Fleet Cards in 2023: An Industry in the Fast Lane
Annual Cost of Fueling at Retail Diesel Pricing per Vehicle
- $58,853 – Transit bus
- $52,179 – Class 8 truck
- $44,545 – Refuse truck
- $18,353 – Paratransit shuttle
- $8,553 – School bus
This report analyzes the market trends and developments in the commercial fleet space, with an emphasis on closed-loop” and open-loop fleet card products as well as cardless solutions. The report examines the current market offerings and how fleet card companies are addressing the needs of the modern fleet customer. It examines trends in diesel fueling, the most common method used for fueling larger vehicles, and trends in alternative fueling, including payment acceptance. Fleet electrification trends as well as public and private charging stations are also explored, and the report details our expectations for the future of fleet operations.