BP’s commercial fuels business has announced that it is launching a new scheme to protect fleet owners from the rising cost of diesel.
The BP Fuel Price Guarantee (FPG) offer caps the price of standard diesel for fleet owners over a set period and within a certain volume of purchase. However, fleets will still be able to take advantage if the price of diesel falls.
The move is designed to help fleet operators protect their businesses, many of which have been badly affected by rising overheads due to the increasing price of diesel.
The scheme, which has limited availability, allows fleet customers to sign up via either UK Fuels or BP Fuel Cards. They are then issued with a BP PLUS Fuel Card, which is PIN protected and is accepted for fuel purchases at all service stations throughout the BP network. The capped price will apply to all fuel purchases made via the card at BP stations. However, the regular price will have to be paid at any non-BP sites who accept the BP PLUS Fuel Card, encouraging brand loyalty amongst fleet drivers, who are often also likely to purchase food, drinks and other items when they stop for fuel.
Fleet managers will be able to see how much money they have saved via a monthly report, which will also show them how much of their monthly capped allowance they have used.
BP hope the scheme will have a positive impact on the fleet industry. BP Fuel Cards marketing manager James Field-Davis explained: “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 integral 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.”
The price of diesel in the UK rose by an average of two pence per litre each month between February and June this year. Capping prices is likely to mean a significant saving for fleet operators. The BP Fuel Price Guarantee scheme is already rolling out throughout the UK.