This pandemic has been a real journey for all of us. A lot has changed since March 2020, including the fact that many car manufacturers couldn’t manufacture all of the parts that they have been on a regular basis. As a result, there has been a shortened supply of vehicles and massive surge in automobile prices, making it even more difficult for many individuals to buy a car.
Cars are a hotter commodity than they have been in the recent past. Fewer cars are being made with people still buying cars on a regular basis, which has created a demand none of the likes we have not seen before. And, of course, when the demand goes up, so typically does the price.
Gas prices are above $3 per gallon, roughly $1 per gallon more than they were a year ago. The New York Times reports that the cost of fuel could rise 20 cents more throughout August. As COVID-19 restrictions relax, demand for crude oil globally has jumped, causing its cost to increase. This is addition to the limit of crude oil exports tightening the global supply and demand. In other words, demand is increasing, and supply might not be able to keep up.
Many businesses rely on semi-trucks or large moving trucks as a part of their business. These trucks depend heavily on gas. When these prices for fuel continue to rise then, they must adapt their whole business around it. It can end up costing them a pretty penny figuring out their business. Here are five ways truck fleets can help to manage the rise in fuel costs:
1) GPS Fleet Tracking
Oddly enough, GPS tracking has a proven track record to save money. Investing in the correct GPS fleet tracking system can provide detailed and accurate speed information about the truck. There is an additional $.22 per gallon of gas added when the truck goes five mph above the posted speed limit, according to the U.S. Department of Energy.
GPS Tracking in automobiles is one of the greatest tools to improve driving habits and safety. GPS fleet tracking offers the ability for truck fleets to save money on gas — and it can also show that driving behaviors may reveal early Alzheimer’s symptoms.
Washington University in St. Louis conducted research to study driving habits of those who may or may not have Alzheimer symptoms. This study can be difficult to prove as all drivers have different habits, good or bad. Some drive fast while others drive slow. Some drive much more aggressively than others.
