Whether you operate a truckload carrier service, an LTL carrier, or have a small courier company in Surrey, fuel cost is something that is bound to impact your business directly, isn’t it?
Depending upon the business type, the average fuel cost for a small business in Canada in the Transport and logistics business can go up to a whopping 35% of the total operating expenses.
Apart from being a significant factor in overall business expenses, it also invites carbon tax and many regulations. The high cost of fuel and heavy reliance on it makes it an even more important factor in making or breaking a business.
That’s where we step in!
In this comprehensive guide, we’ll delve into the intricacies of fuel expense management, providing T&L business owners with a roadmap to optimize fuel consumption, implement cost-saving strategies, and navigate the complexities of fuel taxes and rebates.
You can also schedule your FREE 30-minute consultation
How Does Fuel Costs Impact Your Business?
Fuel expenses often constitute a substantial portion of T&L operating costs, ranging from 20% to 30% for truckload carriers and even higher for specialized carriers.
Fleet owners and managers often encounter significant fuel expenses, second only to depreciation. This is influenced by factors such as fluctuating fuel prices, driver behavior, and vehicle maintenance. Here is an estimation of how much T&L fuel costs for major types of businesses in the industry.
FOR MORE-https://cjcpa.ca/blog/how-to-reduce-fuel-costs-for-tl-businesses-in-canada/
Tips for improving the fuel economy of the vehicle can be achieved with regular maintenance and service from I-5 Motors.
Numerous tips help the individual to maintain an excellent fuel economy without doing many activities.
Small steps in the way help you achieve the fuel efficiency you desire.
Transparency Market Research has released a new market report titled Transportation Fuel Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast, 2014 - 2022.The report defines and segments the transportation fuel market, providing analysis and forecasts of the global consumption.
According to the report, the global transportation fuel market stood at 2,332.57 MTOE in 2013 and is likely to reach 2,698.36 MTOE by 2022, expanding at a CAGR of 1.62% between 2014 and 2022.Browse the full Transportation Fuel Market, By Type, Gasoline, Diesel, Aviation Turbine Fuel (ATF) and Others (Bioethanol, Bunker Fuel & CNG) - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2014 - 2022 report at https://www.transparencymarketresearch.com/transportation-fuel-market.htmlThe global transportation fuel market has been segmented on the basis of fuel type into gasoline, diesel, aviation turbine fuel, and others.
Demand for transportation fuel is anticipated to increase across the world due to increasing seaborne trade and offshore exploration and production activities.
Increasing greenhouse gas (GHG) emissions from vehicles powered by crude oil-based fuels and depleting oil reserves have compelled governments of different countries to switch to eco-friendly and bio-based fuels.
Demand for eco-friendly fuels from the transportation sector is anticipated to rise during the forecast period.
Diesel held the second-largest share of the global transportation fuel market in 2013.
You travel a lot but cannot focus on the money you spend on fuel every day, weekly or monthly.
You want to calculate the cost of your trip.
What if you got a tool to calculate the fuel expenditure to budget your costs?
Make use of the fuel calculator to know more about your vehicle's fuel economy.
Find potential savings on fuel costs with the simple to use online tool.
By 2024, the global fleet management system market is expected to reach $43.5 Billion at a compound annual growth rate of 20.3% between 2018- 2024.
Fleet management softwares keep a check on the dispatchers, drivers on their behaviour, get insights into their work and make amends in cost efficiency and fuel efficiency.
Get to know more, https://www.quickguestpost.com/best-guide-for-entrepreneurs-to-launch-a-fleet-management-software-in-2021/
