Instability in Diesel Prices Spur Fleet Operator Efforts to Improve Fuel Efficiency
Instability In Diesel Prices Spur Fleet Operator Efforts To Improve Fuel Efficiency
Safe driving styles promoted by GreenRoad solutions reduce fuel usage and costs
Austin, Texas, 26 August 2015 – Uncertainty over the direction in which diesel prices are heading is prompting fleet operators to explore on-board solutions, such as GreenRoad’s driver behavior and fleet performance system, which minimize the impact on overall costs.
With fuel accounting for up to 30% of corporate fleet budgets, fluctuating oil prices have fleets seeking to reduce the risk to profitability from volatile operating costs. Mitigating the impact of fuel price uncertainty is now a priority for fleet managers who are looking for sustainable solutions.
“The challenges that fuel costs pose to the health of companies’ bottom lines, together with increasing popular and regulatory pressure to reduce greenhouse gas emissions, have sparked intense corporate interest in reducing fuel usage,” said Ken McCann, SVP Sales North America for GreenRoad.
GreenRoad’s SaaS solution delivers measurable fuel cost savings by effecting long-term and sustainable changes in driver behavior through a continuous self-correction cycle. Based on effective change management methodology, GreenRoad encourages drivers to adopt a safer and more fuel-efficient driving style, eliminating maneuvers that increase fuel consumption, such as speeding, rapid lane switching, avoidable heavy braking and sharp acceleration.
Given that these maneuvers are potentially dangerous as well, GreenRoad’s SaaS solution provides excellent return on investment: In addition to increasing fuel economy, it also cuts accident-related expenses and lowers insurance premiums.
“With the price of diesel fluctuating in response to pressures beyond their control, fleet operators are recognizing that changing driver behavior to be more fuel efficient can reduce the impact of fuel cost volatility on their bottom lines to a significant extent,” continued Mr. McCann.
Savings are significant: GreenRoad customer Iron Mountain, the global leader in information storage and management, accrued savings estimated at around $3 million over three years on fuel, accident-related costs and insurance premiums by implementing the system. Fuel efficiency rose 15%.
While diesel has fallen from its dramatic peak of $4.16 in 2013, prices continue to fluctuate. Oil producers have started to scale back less profitable operations, reducing supply and stirring fears of further price hikes, and the US Energy Information Administration forecasts that average prices will top $3.20 in summer 2016.* In the past few months, six successive weekly rises briefly pushed the price above $3.26 a gallon in California and to a US-wide average of $2.91 a gallon in May until prices subsequently subsided, falling to under $2.62 last week, the lowest level since October 2009.
* US Energy Information Administration, forecast as of May 12 2015
About GreenRoad Technologies, Inc.
GreenRoad provides a single, comprehensive solution for changing driver behavior and managing fleet performance and efficiency. GreenRoad’s platform helps fleet operators improve driving safety, increase fuel economy, lower insurance premiums, and reduce accident-related costs. GreenRoad’s advanced business intelligence and performance analytics enable fleets to optimize daily and strategic operations.
GreenRoad engages drivers directly to generate meaningful, lasting change through real-time, in-vehicle feedback and highly effective change management methodology.
With over 8 billion miles monitored and 600,000 driving years logged, GreenRoad serves leading companies of all sizes and across many industries, including trucking, passenger transportation, construction, food service, delivery, and public safety.
The company has offices in the US, UK and Israel.
For more information about GreenRoad please contact:
+44 24 76 228881 / +44 7799 064 066