BP’s commercial fuels business is offering fleets a new pricing structure that could help fleet owners cap diesel costs and protect their business against prices rising, while maintaining the ability to benefit when prices fall.
To manage costs, fleet managers have traditionally needed to budget fuel consumption and cost, which is challenging against a backdrop of fluctuating fuel prices, says BP. Its new Fuel Price Guarantee (FPG) pricing offer caps the price paid on regular diesel for a set period and volume while allowing customers to benefit from a price drop.
BP’s fuelcards marketing manager James Field-Davis said: “Fuel price volatility can have a meaningful impact on a business's profitability, cash-flow, competitiveness and overall ability to do business.
“Exercising control over consumption and cost is an essential part of managing a fleet, so BP’s Fuel Price Guarantee is a unique way for fleet owners to budget, control and plan fuel costs more efficiently by not only capping the price of regular diesel, but also benefiting from falling prices.”
Subject to availability, customers can sign up to BP’s FPG via either UK Fuels or Be Fuelcards. Customers will then be given a PIN-protected BP Plus fuelcard, which can be used to purchase fuel across the BP network. The capped price doesn’t apply at other sites accepting BP Plus fuelcards.
Fleet managers will get a monthly report showing how much has been saved due to the cap and the amount of FPG volume left that month.
BP has more than 1,260 sites in the UK.