A new service has been launched that has been designed to help fleet managers to not only stabilise fuel costs but also to accurately budget for them over a period of months.
York-based Portland Fuel Price Protection, set up by former BP employee James Spencer, uses information about oil trading to purchase fuel and agree fixed prices with haulage firms.
Under the agreement, operators buys fuel at the usual outlets
in the normal way. Portland refunds the difference between the actual price paid and the agreed fixed price, if the fuel cost is higher.
If the customer pays less than the agreed price, they will refund Portland. The customer has the option to sign up for a period of between one week to six months.
Spencer says: "We believe the service can be of great benefit to hauliers who run 10 trucks or more. It can enable fleet managers to 100% predict fuel costs over a fixed period."
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