How a fuel pricing specialist can save you money

How a fuel pricing specialist can save you money

Fuel pricing specialist Portland Pricing has cemented a new partnership with FORS (Fleet Operator Recognition Scheme). CVW reports.

The new service, which is provided by Portland Analytics, is now the official provider of fuel price information to FORS operators, providing simple, actionable insights to enable effective fuel price management and cost savings. The York-based company has been publishing UK market fuel price data for over a decade and aims to make fuel purchasing straightforward and understandable for commercial users. The new agreement means that Portland will become a FORS Affinity Partner, with discounted rates available for FORS operators.

Price is right

Through a subscription to Portland’s online fuel pricing portal starting from £40 + VAT per month, businesses can gain access to an industry-leading Fuel Surcharge index and calculator, get visibility of underlying wholesale fuel costs to track premiums charged by suppliers, and understand when to buy to take advantage of market movements. Portland’s service also shows the average price of bulk fuel by region, prices and emissions data for alternative fuels such as HVO, as well as average fuel card and forecourt prices. The data is available across five dedicated toolkits allowing users to build a subscription to suit their requirements, with a 5% discount available to FORS members. All services include access to daily market headlines to provide the context behind price movements, alongside underlying crude oil price information and exchange rate data.

Regardless of whether a company purchases fuel itself or contracts this part of its operation out, it has been well documented that movements in diesel and HVO prices can seriously impact budgets. UK bulk diesel prices have fluctuated significantly over the last year or so,(moving between £1.04 and £1.57 per litre since 1st September 2022), making it essential to reflect accurate fuel costs in haulage agreements and to secure the lowest possible price versus the wholesale base cost.

Unlocking Benefits with a Fuel Pricing Specialist

Smarter procurement

The client base for Portland’s fuel pricing service spans multiple sectors including logistics companies, fleet operators, manufacturers, wholesalers and retailers. The company’s range of expertise encompasses all aspects of the fuel supply chain, covering both the traditional and future fuel markets, with an offer extending into the more detailed consultancy services provided by Portland Analytics.

Mike Johnson, director of Portland Analytics, says: “We are looking forward to engaging with vehicle operators to provide access to our market-leading pricing and analytics services. Partnering with the gold standard for British transport operators is a privilege and our aim is to work closely with members to deliver improvements to fuel procurement strategies, to further enhance FORS’ already class-leading offering.”

Geraint Davies, FORS concession director, adds: “In my former role as COO of a large haulage company I had overall responsibility for fuel procurement. This included the purchasing of full bulk loads of diesel and HVO, as well as bunkering with UK Fuels. Much of this purchasing activity involved the spot market and it was very useful to have the market insight of the Portland Pricing tools when making these decisions, as savings of over £3,000 are possible on a full load with intelligent procurement practices. This is an essential service in my view and can pay for itself several times over.”

Want to know more? Click here.

Related posts