It’s 2016. The nation will elect a new president. Apple may – according to market analysts – become the first $800 billion company. What will the year ahead look like for trucking fleets? Here are a few predictions: 1. The Driver Shortage Will Continue The need to find qualified drivers, particularly for long-haul operations, will continue to be an issue
With 21 million people, the city of Lagos, Nigeria is one of the world’s busiest and fastest growing metropolitan areas. And with all those people comes a nightmarish amount of traffic. “The World’s Worst Traffic Jam,” The Atlantic Wrote in 2012. Things haven’t improved since then. Reuters profiled Lagos’ traffic congestion in December of last year, describing commuters taking three
According to a recent news release from PR Newswire, fleet management will become a $22 billion market over the next five years. That’s up from $8 billion in 2015, a figured based on new market research into fleet management solutions published by Markets and Markets. Whether you’re a fleet manager or a CFO, understanding the factors that are affecting this impressive growth
Fleet Managers can be certain of one thing; fuel price volatility. Fuel prices have been on a roller coaster that has recently been climbing after several months of significant declines. Volatility will continue into the foreseeable future which makes a Fleet Manager’s job even more difficult. Managing fuel costs to the annual budget set months ago is nearly impossible.
The past few months showed how fast diesel fuel prices can change. During most of 2014, fuel prices were not very volatile although they declined slowly. Then, at the end of November 2014, a rapid decline began which continued through February 2015 that shaved about 40% off of average wholesale prices and 25% from retail prices.
January was another great month for fleets as diesel fuel prices fell sharply again. The average retail price reported by the U.S. Energy Information Administration dropped by 41 cents compared to December. This was the largest decline since prices started falling back in March 2014 and, arguably, it was a bit overdue.
For the past few months, we’ve all been watching the price of crude oil decline rapidly. Even when you start to think it’s going to stabilize and can’t go much lower, it goes down even further. As I write this article, a barrel of crude is now trading in the high $40’s which is less than half of where it
The old expression, “What goes up must come down” is happening again with crude oil. Over the past several months, we have seen a barrel of crude oil go from $107 back in June 2014 to under $65 earlier this week. And, it doesn’t look like the price of crude oil will be rebounding much higher anytime soon. Fuel purchasers
Winter is coming; a reference to Game of Thrones for any of you fans out there. You know the Starks would be preparing, and you should too. Think about last year and how hard it was on your trucks. I’d usually point to places in the North known for the frigid temperatures as a focal point for this topic, but
Many companies have determined that locating a bulk fuel tank in their own yard provides the most cost-effective method for their fleet fueling requirements. Bulk tanks certainly come with insurance and environmental challenges, but they can be overcome with careful planning. It’s also costly to purchase and install a bulk tank, but significant net savings may be achieved compared to
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