WITH BP FUEL CARDS THERE IS A SOLUTION
In 2016, BP launched a range of fixed and capped price fuel cards. As well as all the standard benefits that businesses enjoy from using a BP Fuel Card, such as preferential pricing at the UK’s largest forecourt network, customers can choose to purchase all or a proportion of their monthly fuel requirement at either a fixed or capped price.
The BP Fixed Price Offer provides businesses a guaranteed price for a set volume each month, for a period of one month up to three years, giving you certainty on exactly what you will pay for your fuel. This not only protects a business from changes to the crude oil price but also locks in the exchange rate.
The BP Capped Price Offer allows a business to retain the benefit if the diesel price decreases but gives protection against price increases over an agreed level for a set volume of regular diesel each month. If the price is below the capped level the customer continues to pay the floating pump price.
We signed up to BP Fuel Cards Fixed Price Offer (FPO) because it
gives us much better visibility of our future expenditure. We have around 400 vehicles and spend about £2.5 million on fuel a year so have decided to hedge 50% of our expected annual volume which we’ll review in about six months. We couldn’t have chosen a better time to start using the FPO offer as fuel prices have increased by 16% since February, with a week-on-week increase of 2.8% in the last week. It’s very forward thinking; the offer is the first of its kind we’ve seen in the market. We started using BP Fuel Cards 12 months ago and so far it’s given us a lot more visibility and control – long may it continue!”
COMPETITIVE ADVANTAGE
Having certainty on fuel costs can also help businesses compete in their own markets, allowing them to give certainty on costs to their customers, sharing the benefits if prices fall but ensuring that costs don’t increase if the oil price goes up. BP have helped over 400 businesses manage their exposure to fuel price volatility, saving them thousands of pounds.
Can you afford not to protect yourself from fuel price volatility?
Learn how you can take total control of your fleets costs, fuel spend and usage with BP by contacting us.
Telephone: 0845 603 0723 Email:
bpcardsadmin@bp.com Visit:
www.bpplus.co.uk
Anthony Livingstone – Finance Director Chevron Traffic Management
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