How to improve fleet fuel efficiency?

With fuel costs rising, how can you save on fuel and improve fleet fuel efficiency across your cars and daily operations?

Are you a vehicle rental company or a fleet manager? Are rising fuel costs affecting your company’s profitability? Current crises and inflation have fueled rising prices for gas, diesel, and other fuels. Achieving fuel efficiency for fleets and understanding how fleets can save on fuel economy are now essential to sustaining the growth of your rental business and vehicle fleet. Let’s explore how to achieve this and why implementing the right fleet management software is key to building fuel efficient fleets.

Why are fleet fuel savings becoming harder to achieve?

Fleet fuel savings are under pressure due to rising fuel costs. The main reason for the meteoric rise in fuel prices at the pump is the economic recovery after the Covid. Simply put, the fuel cost for a fleet largely depends on the price of Brent crude oil — the global benchmark — even when operating fuel efficient fleet cars. This price is thus indexed according to supply and demand. Industry and global production are rising again after several months of inactivity. This naturally drives up demand and, in turn, the price of fuel for car fleets. Also, the euro/dollar exchange rate directly affects oil prices, which are set in dollars. A strong euro lowers costs for Europeans, while a weak euro drives them up.

Economic recovery and currency indexation are not the only causes of rising gasoline and diesel prices. Conflicts such as those in Ukraine are important factors in the increase in fuel prices. For example, Europe imports most of its diesel from Russia. The price of diesel has soared due to fears of a European Union embargo. The total price of a liter of petrol also includes the gross distribution margin, which covers transport, storage, and service station costs. In addition, some countries apply significant taxes. Combined with taxes and supply challenges, this explains the recent sharp rise in fuel prices, making fuel savings for fleets more important than ever.

How to calculate fuel costs for a fuel efficient fleet

Calculating fuel costs is the first step toward building a fuel-efficient fleet. These savings will allow you to perpetuate your company’s growth and profitability. To do this, we recommend downloading and implementing a management software. This type of tool is an ideal solution to optimize vehicle fleet fuel efficiency. Many car rental companies and fleet managers use the myrentcar application. Its advanced features allow you to calculate, for example, the cost of fuel for a diesel car. Accessible online in SaaS mode from your smartphone or computer, myrentcar is a web-based solution that manages all business processes and helps monitor your average fleet fuel efficiency.

The analysis and reporting tools in the myrentcar management software centralize your purchasing and supplier data. They also provide real-time insights into your operations, including metrics on fleet average fuel efficiency. Myrentcar accurately calculates the profitability of a vehicle based on its costs and sales to help you make decisions. By tracking fuel consumption for each vehicle, myrentcar helps you optimize fleet movements and invoice fuel accurately, while optimizing fleet fuel savings. This system is essential for properly managing your fleet, including invoicing, accounting, and maximizing fleet fuel save.

Fleet management fuel efficiency: How to reduce fuel consumption?

Fleet management fuel efficiency is key to reducing fuel consumption. To reduce fleet fuel costs, it’s essential to understand how to improve fleet fuel efficiency through targeted strategies. First, changing the behavior of your customers and employees is essential. Promoting eco-driving, regularly checking tire pressure, reducing speed, avoiding vehicle overloading, and anticipating traffic are all key practices that contribute to fleet fuel saving. Choosing a fleet of electric and hybrid cars is also a response to the rising price of gasoline and diesel. However, the high cost of use and the limited range of electric or hybrid vehicles can slow down investment. This is true despite the advantageous tax system and the ecological purchase bonuses offered by the government. This makes it even more important for companies to adopt a strong fleet fuel efficiency standard.

Car-sharing combined with on-board telematics in autonomous and self-service vehicles offers telematics fleet fuel efficiency benefits that help reduce overall fuel consumption. By optimizing fuel efficiency with the fleet telematics features of the clickygo car-sharing app, integrated with the myrentcar fleet management software, companies are able to identify routes, driving style and traffic conditions to improve fleet fuel efficiency. This advice should not be taken lightly, as fuel represents between 15% and 30% of a fleet’s total expenses. Developed by hitech, myrentcar is used by many fleet managers of cars, SUVs, vans, two-wheelers and trucks. The centralized information provided by the myrentcar fleet fuel efficiency software helps limit the impact of rising fuel prices and inefficient driving behaviors. To learn more, check out all our tips for managing a vehicle fleet on our blog.