By Derek Singleton
There’s been a steady stream of articles about rising gas prices here on Triple Pundit. Some have looked at what the impacts of higher gas prices will be while others have acknowledged that they aren’t going lower and asked if your business is readyfor the “new normal” of high fuel prices. These articles have pointed out some very important aspects of high fuel prices, and I wanted to build on them by offering a few strategies for coping with the upward trend of gas prices. Here, I’d like to offer some advice to companies that operate fleets and see fuel as a capital expenditure.
Many businesses and fuel procurement offices have assumed that if they could just weather a few rough years, fuel costs would eventually stabilize. That assumption, however, is turning out to be flawed as oil prices are expected to rise by 30 percent in the next three years. Moreover, 2011 set the record for the higher average annual gas price, when adjusted for inflation.
