Businesses across Australia are being impacted by rising fuel prices despite the reduced global oil price and declining travel due to lockdowns. Many small and medium sized businesses with fleets still able to operate are finding the rising fuel prices hitting the bottom line at a time when they are looking to manage expenses and trim costs.
Media and experts have been reporting on the rising fuel prices and encouraging business and motorists to shop around and compare prices as there are savings to be had. News.com notes that despite a drop in oil prices, unleaded fuel remains high across the country’s capital cities at $1.73 a litre in Brisbane, $1.63 in Adelaide, $1.55 in Melbourne and $1.45 in Sydney.
The outlet also notes petrol prices are nearing the highest in the last decade and that in August, Brisbane was expected to break records for its highest average for fuel. The other states were not immune with Sydney recording its slowest fall on record and Melbourne experiencing similar slow price drops.
RACV reported on prices in Victoria and their research reveal that savvy motorists can make considerable savings by shopping around. Petrol prices move up and down in cycles and the Australian Competition & Consumer Commission (ACCC) tracks and reports on the fuel cycles across Australian capital cities and indicates best days to fill up and save.
Thousands of business in Australia and NZ are turning to expense management and fleet specific solutions to help them to track and manage expenses. Savings can be found in products offering interest free credit as well as the ongoing cents per litre discounts some card products offer businesses. Using some of the free fuel price finders can be a good way to help your drivers plan their journeys and fill up at the cheapest location.
It’s a challenging time for businesses and they need to be aware that there are great tools and products for owners and managers to trim the bottom line and that fuel cards are key to unlocking both time and money savings around their business vehicles.
The Supply Clusters Fleet Card offers business big and small a convenient way to manage vehicle expenses and access real savings across the network. With great business tools like the site locator businesses can easily find and track significant savings as well as saving valuable time using electronic statements to track expenses.