With our fuel card, businesses can save up to 8 cents per gallon on fuel purchases at participating locations. These savings can add up significantly over time, especially for fleets that require frequent refueling. To get an accurate estimate of your potential savings, we recommend contacting our customer service team or using our online savings calculator.
Understanding Fuel Cards
Fuel cards are designed to help businesses manage fuel and maintenance expenses for their fleet vehicles. They work similarly to credit cards but are meant exclusively for purchasing gasoline, diesel, and other vehicle-related products. Fuel cards come in handy, especially where employees need to travel frequently on duty to manage operations and require fuel refills regularly.
The beauty of fuel cards lies in the convenience they offer when managing fleet expenditures. The card providers monitor all the transactions made using the card, generate reports based on the data collected and send them to the fleet managers for easy expense tracking purposes.
Applications of Fuel Cards
Fuel cards offer significant cost savings for businesses through volume discounts, rebates, and expense control features. Businesses can enjoy reduced fuel prices regardless of location, earn rebates on purchases, and have control over employee expenses to avoid wasteful spending and fraud. Fuel cards also streamline processes, reduce administrative duties, and provide security by helping fleet managers identify fraudulent transactions. Overall, fuel cards are a cost-effective solution that allows for easy tracking and monitoring of fleet expenses while offering employers control over employee purchases.
Fuel Cards and Their Cost Savings
Fuel cards have been designed to help businesses save on fuel costs. Every time a business fills up their fleet vehicles, they can expect discounts as high as 8 cents per gallon by using Valero Fleet Card and Valero Fleet Plus Card. These cards not only help businesses reduce fuel expenses but also provide discounts on auto parts, tires, hotels, and maintenance services. In addition to providing cost savings, the Valero fleet fuel cards also streamline administrative tasks that are commonly associated with fleet expenses.
Discounts for Volume Buys
Most fleet fuel card providers offer discounts based on volume purchases. For example, the more gallons of fuel purchased within a billing period by a company enrolled in the rebates program, the bigger the discount they receive. With these discounts ranging from 1 cent to 8 cents per gallon rebate on monthly purchases, businesses can realize significant savings over time. Most fuel card providers also offer tiered pricing systems for volume purchases that vary from one provider to another. For instance, bulk purchases could earn higher percentages of rebates than low-quantity buys.
When used optimally, volume-buying discounts can potentially lead to considerable savings for businesses operating multiple vehicles as they will clock higher volumes more frequently than those with fewer vehicles.
A small delivery service sends out ten trucks every day to make deliveries to their customers located across the country. Over time their costs for diesel fuel begin to add up quickly until they found Rebate Program for their Valero Fleet Card which provides rebates of up to 8¢ per gallon for qualifying accounts buying 10k gallons or more monthly at participating locations.
Streamlining Administrative Tasks
As a business owner, efforts to reduce unnecessary expenditure are always welcomed. For many businesses, fuel expenses make up a significant portion of overall operational costs. One way to ease this burden is by streamlining administrative tasks, which include reducing manual data entry and tracking fuel expenses. Fleet fuel cards streamline this task by automatically mapping out all purchase details, saving valuable time and minimizing accounting errors. These cards also provide more efficient expense management tools on online dashboards or mobile apps.
Calculating Your Fuel Card Savings
To determine your total savings with Valero fleet fuel cards, you need to calculate the sum of money you spend on fuel annually. You can then compare these totals with the amount spent after employing Valero’s fuel card services. Keep track of your company’s miles driven and mpg (miles per gallon) rates, as this information will help calculate how much fuel cost has been saved through implementing a fleet card service.
Valero’s fleet card programs offer businesses the opportunity to earn rebates based on monthly gasoline volume purchased at specified gas locations relevant to the program. To obtain enough data for calculation using this rebate system, we recommend reviewing several previous billing statements over an extended period before opting-in for any Valero Fuel Cards; otherwise, estimations may be inaccurate.
For instance, a delivery company with 10 trucks traveling an average of 1,000 miles each weekly could save up to $10,400 in a year by using the Valero Fleet Plus Card; if these trucks traveled at an average of 8 mpg levels and purchased roughly 250 gallons weekly from designated program affiliate stations offering a rebate rate of approximately 4 cents per gallon on such purchases.
The Smart Hub app delivers hands-on functionality that provides users access to control spending by setting location-specific limits on where drivers use their cards and settings to monitor driver-specific restrictions on fuel type purchasing along with online/paperless billing, allowing instant payments and reduced paperwork.
Potential Savings Estimation
For commercial vehicles that consume large amounts of gasoline, fuel card programs can offer significant savings. Based on current fuel rates, Valero Fleet Cards offer up to 8-cents-per-gallon discounts at their stations. To put this into perspective, a fleet with just ten vehicles can save over $4,000 by opting for a Valero Fleet Card through regular refueling procedures. Furthermore, some fuel card programs offer additional discounts on car maintenance and repair services. The potential savings could prove to be worthwhile even for smaller fleet sizes.
Imagine your business has fifteen company cars, and you want to get the best deal on gasoline expenses. With an estimated consumption rate of $3,000 per month on gas alone, leveraging discounts on a fuel card program can lead to significant savings in the long run.
Balance of Fuel Card Providers
When it comes to choosing the right fuel card for your business, it’s important to consider the balance of fuel card providers. Each provider has its own set of offerings, and it can be challenging to determine which one is the best fit for your company. Some companies may offer discounts on fuel purchases specific to certain regions, while others may have more extensive networks and acceptance at more locations. It’s essential to evaluate the fees, rewards, fleet management tools available, and other features carefully.
One way to assess this is by comparing fuel card providers using an online tool like Fuel Card Reports. It allows you to compare different providers’ offers based on factors like network coverage, application process, annual fee, transaction fees per gallon or per fill-up, and more. Evaluation using such tools could provide a clearer picture of what each provider offers in relation to your business’s needs.
It’s also worthwhile doing research beyond the features listed in comparison tables as sometimes specific features may not be included but are still vital when deciding.
It’s important not to overlook smaller regional players that might offer benefits that larger companies might not offer. For example, smaller companies might offer greater flexibility when approving applications with lesser credit scores or lenient penalty fees for missed payments.
To relate to the importance of seeking a balance of fuel card providers – it works much like when you’re shopping for clothes. You might want something versatile and comfortable, but you don’t want to sacrifice style or quality either. It’s crucial to find the right balance that caters best to your needs.
