Lowest Gas Prices in 10 Months
As crude oil prices dropped last week, the price of gasoline at the pump continued to decline and is now at the lowest point since February 23.
Fleet Management News
FieldLogix is a top news source for fleet management news. We are constantly evaluating the market for top fleet management trends and report our findings to you. We are the go-to source for many fleet managers and analysts that cover the fleet management industry. Our extensive knowledge of the market ensures that we are capable of supplying fleet management news that is credible, timely, and informative.
Consumers Spent More on Gas in 2011 Than Any Other Year
gasoline prices
Record High Gas Spending in 2011, U.S. Consumers Spent $4,155 More On Gas This Year
Even though gas prices have been falling in recent weeks, consumers have spent more money on gasoline in 2011 than any other, according to the Oil Price Information Service (OPIS).
Employee Busted on Job Interview, Going To Mexico While On The Clock
GPS Tracking System Busts Employee Driving to Mexico in Work Truck and Going On Job Interview With Major HVAC Competitor While Still On The Clock.
Oil Prices Surge on News Iran May Disrupt World’s Oil Supply
Iran may be playing military games as speculation rises that its military will soon be shutting down the Strait of Hormuz, a shipping channel where one-sixth of the world’s oil supply passes through.
Oil prices rose the most in almost four weeks on speculation supplies will be disrupted after a report that Iran may be planning to close the Strait of Hormuz. Crude advanced as much as 3.6 percent after the state-run Fars news agency reported the military drills at the strait, however Iran’s Foreign Ministry denied the report.
Oil traders remain fearful that Iran could try and block the strategically-sensitive Strait of Hormuz that links the Gulf with the Gulf of Oman and through which much of the region’s oil is transported. Most of the crude exported from Saudi Arabia, Iran, the United Arab Emirates, Kuwait and Iraq – together with nearly all the liquefied natural gas from lead exporter Qatar – must slip through a 4-mile wide shipping channel between Oman and Iran.
Sierra Solutions Ends Driver Speeding with FieldLogix
Sierra Solutions saved thousands in its first year of using FieldLogix by being able to prove misuse of vehicles, verify overtime hours and reduce fuel consumption by over 20%.
CT Government Fleet Will Vote on GPS Fleet Tracking Devices
A government fleet in Connecticut, the Department of Children and Families (DCF), is considering adding GPS tracking devices to its entire 800 vehicle fleet. DCF Commissioner Joette Katz estimated the GPS fleet tracking devices will save the state nearly $250,000 in the first year by being able to prove misuse of vehicles, verify overtime hours and save 20 percent on fuel consumption, the CT Mirror reported.
“Anytime you add additional oversight you reap some benefits and efficiencies,” said Cindy Butterfield, budget chief of the $872 million agency. The agency proposes cutting overtime by 10 percent for a savings of $1.7 million next year, and Butterfield said GPS fleet tracking devices will help DCF do that.
Gas Prices Down 14 Cents in One Month, Oil Prices Up 30%
Since the beginning of October, crude oil prices have increased substantially while retail gasoline prices have decreased. Crude prices have increased from $75.67 per barrel on October 4 to $100.99 yesterday. During this same period, gasoline prices have decreased 14 cents per gallon.
This seemingly counterintuitive price movement is primarily due to historically weak demand for gasoline counteracting the upward price pressure traditionally expected with higher crude prices.
Fleet Tracking Technology Is Saving US Businesses Millions
Even with the recovering economy, unpredictable fuel prices and increasing insurance costs for vehicles continue to be a challenge for thousands of U.S. businesses. Many companies have discovered that investing in the right technology can be a wise investment at this crucial time.
Whether you manage a fleet of 5 vans or hundreds of fleet vehicles, GPS fleet tracking solutions can improve your bottom line. Wireless fleet tracking systems can put a spotlight on a driver’s habits that consume excessive fuel and emit unnecessary pollution. The most frequent of these activities include excessive speeding, idling and sudden acceleration and stops. Tracking these types of activities is essential to achieving a fuel-efficient fleet.
IRS Sect 179 Allows Helps Write-off GPS Tracking System Purchase
Now may be the perfect time to invest in a GPS tracking system since the federal government will essentially pay for a large portion of it. Thanks to the extension and increased deductions with IRS Piggy-BankSection 179, businesses can write off up to $500,000 for equipment purchased during 2011.
Fleet Tracking System Features Designed to Instantly Reduce Fuel Costs
Utilizing a GPS fleet tracking system can be one of the most cost effective means to manage and reduce fuel consumption. Companies surviving the Great Recession are realizing they can no longer ignore the built in inefficiencies within their operations. A GPS fleet tracking system can help the average fleet reduce fuel costs by up to 20%.
In today’s tough economic climate, profit margins are slim and companies must implement as many cost-saving initiatives as possible. In order to stay competitive, companies have to look very closely at every penny spent.
A fleet tracking system can provide an ROI in less than six months and immediately reduce fuel consumption, plus produce ecological benefits. Companies both large and small are utilizing them to create profitable, sustainable fleets.