BP’s commercial fuels business has launched a Fuel Price Guarantee.
The new offer will help fleet owners cap diesel costs and protect against prices rising while maintaining the ability to benefit when prices fall, claims BP.
For many fleets, fuel is the single most significant cost element of their fleet budget and when prices rise it can have a significant impact on their bottom line.
New pricing structure can help protect fleet owners from fuel price volatility says BP
To manage costs, fleet managers have traditionally needed to budget fuel consumption and cost, which is challenging against a backdrop of fluctuating fuel prices.
BP says its new Fuel Price Guarantee (FPG) pricing offer caps the price paid on regular diesel for a set period and volume whilst still allowing customers to benefit from a price drop.
BP’s fuel cards marketing manager, James Field-Davis, said:
“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 essential 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.”
Subject to availability, customers are able to sign up to BP’s FPG via either UK Fuels or BE Fuel Cards and will then be given a PIN-protected BP PLUS Fuel Card, which can be used to purchase fuel across the BP network. The capped price doesn’t apply at other sites accepting BP PLUS fuel cards.
Fleet managers receive a monthly report showing how much has been saved due to the cap and the amount of FPG volume left that month.
BP is the largest single branded fuel network in the UK offering more than 1,260 BP sites.