The trucking industry has been feeling the pinch of rising fuel costs as prices increased
from $1.18 to a record high of $5.20 a gallon in
just two weeks.
Crude oil prices rose to their highest in nearly
14 years as the U.S. and U.K. announced that
they would prohibit Russian oil imports as
President Vladimir Putin continues with his
invasion of Ukraine.
Small trucking operators feel the heat as they continue to absorb the fuel cost
increases. As a result, many of these businesses struggle to stay afloat, and some are
even going out of business.
The trucking industry also sees
higher shipping costs, resulting in
increased prices for consumers.
So far, there doesn’t seem to be an
end in sight to the climbing fuel
prices, and the trucking industry
will have to continue to adapt.
How to Cushion the Blow from Rising Fuel Costs
To mitigate the impact of rising fuel costs, trucking companies need accurate data on
their fleet operations to analyse and make practical improvements in their company.
A comprehensive GPS tracking solution is an effective way to monitor and calculate how
much gasoline or diesel an entire fleet consumes each month and year.
A fleet asset management software is
also crucial for analysing data and
generating automated reports that help
companies improve fuel economy and
make the most use of their resources.
Fuel consumption, vehicle maintenance,
driver behaviour, route efficiency, and
productivity are vital areas that truckers
can improve using fleet management and
For instance, tracking and analysing fuel
consumption data helps identify which
drivers and vehicles use more fuel than
necessary. Truckers can then use this
information to improve driver behaviour
and change routing to save gasoline or
Ultimately, by understanding where your
fleet is spending the most money, you
can save on your company's fuel, repair,
and operation expenses.