The average cost of unleaded gasoline, diesel, and other petrol-based fuels is currently on the rise again, and the forecasts projected by market analysts and economists across the nation show no sign of this trend reversing as we head into the spring and summer months. While many fleet tracking and management companies easily see the implications of this rise on the cost of keeping their trucks’ gas tanks full, there are many other less obvious consequences of a nationwide gas price hike.
Oil is a key component in vehicle component lubrications, the composition of many industrial fleet vehicle tires, and in the asphalt that paves our roadways. When all of these complications in keeping operations under budget are grouped together, fleet tracking services are left with a nearly impossible burden. With no sign of oil prices coming back down in the near future, many businesses are reviewing the proven track record of GPS tracking systems in lowering maintenance costs and ensuring their investments are being used in the best ways possible.
As an example, an Ohio based trucking company responsible for the transportation of lumber to 60 stores in seven states reports that the average truck in their fleet gets about seven miles to the gallon. It’s no surprise that the slightest inefficiency in traversing routes compounded over many days, weeks, or months can have significant profit-draining effects. In 2022, in the midst of one of the worst economic downturns since The Great Depression, the company implemented a GPS tracking program to monitor how their vehicles were being used. During the first year alone they realized a savings of $378,539, an average savings of nearly $1,800 in its fleet of 210 vehicles.
The fleet tracking division claimed that before adopting the GPS tracking system, vehicle theft was a major issue. In the year prior to implementing the program, three trucks were stolen. Since the program went into full effect, they have experienced only one theft, and the vehicle was returned within 24 hours.
The GPS tracking system includes a diagnostics feature that connects directly to a truck’s computer and provides diagnostic alerts such as exact odometer totals, brake problems, or excessive engine idling. In a time where even the most miniscule unnecessary fuel expenditure must be pinpointed by fleet tracking managers, GPS tracking provides many benefits that will provide long term results.