A business is expensive to run. Starting a new business requires significant capital. That’s why it’s critically important to save money any way you can. This is especially true for businesses that are operating in the trucking and/or delivery industries. Companies in these industries will spend a large amount of money on fuel costs. Sites like iCompario have been designed to provide comparisons on fuel cards for truckers. These fuel cards can save truckers thousands of dollars per year on fuel expenses.
What are Fuel Cards for Truckers?
Fuel cards for truckers are credit cards that are typically limited to fuel payments. However, some cards are also designed to cover the cost of car washes and other goods found at truck stops and rest stations. Trucking companies can offer fuel cards to their employees in their own names. The cards can also have spend limits designed for that specific employee. Spend limits helps the employee and their employer stay in control of their budgets.
Top Benefits of Using Fuel Cards for Your Trucking Companies
Fuel cards for truckers can help you company save on fuel costs. They come with discounts that you wouldn’t receive with regular credit cards. That’s the most important benefit. In addition, it makes it easier to track fuel expenses. Drivers also become more efficient because they can get through fill-ups quicker. It also makes filing taxes at the end of the year simple for employers. Employers can use the card statements to get an exact count of how much money was spent on fuel expenses throughout the year. No need to go through a ton of receipts or company bank statements.
They Come with Different Pricing Options
Another great benefit of fuel cards for truckers are the different pricing options. Drivers can pay the pump price or a fixed price each week. The pump price is whatever price is listed at the pump. The pump price can also vary from day to day. This makes it harder to estimate the cost of fuel. However, the fixed price is set in advance and doesn’t change, even if pump prices fluctuate throughout the week. This enables trucking companies to save even more money on fuel costs.
They Help Truckers Save a Time on Transaction Tracking
Gone are the days when drivers needed to present receipts to employers as proof of what they spent on fuel. Fuel cards for truckers are managed via an online system provided by the card provider. Fuel transactions are recorded online via the card provider so companies can login and immediately access statements outlining these transactions. Truck drivers can use these transaction statements in place of age-old receipts.
How to Choose the Right Fuel Cards for Truckers
Choosing the right fuel card depends on the size of your business, coverage areas, the number of trucks you want to cover, and the fuel stations your organization uses the most. Fuel cards are typically offered directly by the fuel provider. So if you use Shell or BP the most, applying for those fuel cards will make the most sense. Again, sites like iCompario can help you find fuel cards that are most fitting for your trucking organization.