| Greetings!
By now you are finished or knee deep into your budget for 2010. With perhaps the exception of 2009, Are we are getting ready to go into a year with so many unanswered questions? What will happen with fuel prices, housing market, unemployment, governement actions, and when will the economy recover?
We are here to help. If you are a client, you know our phones, emails, doors and windows are always open for you. If you are not a client and have a fuel question, please drop me an email. Maybe that is how we start doing business or maybe its not, but I am willing to help if I can.
We provided a free webinar last week on fuel budgets. I hope you had time to catch it, if not you can view it at:
2010 Fuel Budget Webinar
Glen Sokolis
If you have an idea or topic you would like to see discussed here or if you would like to contribute an article for future issues, please e-mail me at gsokolis@sokolisgroup.com
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We want your drivers safe.
Distractions cause Accidents.
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Discourage cell phone use
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Set mirrors for best all-around visibility
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Review direction or set up GPS before starting out
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Check cargo to ensure its properly secured
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Preload radio stations
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Preload CD's or Ipods
The more miles you drive, the more fuel you burn, the more you need us.
Drive Safe, Always! |
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DOE Prices
as of 11/02/2009
CenAtl = $2.940
LwrAtl = $2.785
Midwst = $2.786
GulfCst = $2.749
RkyMt = $2.810
WCst = $2.910
CA = $2.974 |
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NOT A SOKOLIS GROUP CLIENT?
Contact us online or call 267-482-6155
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Fuel Prices, fuel prices where are you going now?
In the fuel management business we are often asked where do we think fuel prices are going to go. I basically tell them, if I knew that I would be long retired back when I was in my early 30's. The problem with fuel is so many factors effect it's price.
Over the last several weeks we have seen diesel fuel prices increase 20 cents a gallon, gas prices increase 16 cents a gallon and crude oil go up by over $13 dollars a barrel. Most people ask why. We ask why. The fuel market is crowded with supply and not enough demand yet. Though over the last few weeks we have seen inventories go down a little but we are still swimming in fuel supply.
The reason for the sharp increase over the past month has been a weak U.S. Dollar. Since oil is priced in dollars on global markets, a weak dollar drives oil prices up. The weak dollar leads investors to put cash into assets such as oil and gold to protect against the weaker dollar. When this happens the price of oil is driven up higher not because there isn't enough supply, it's due to the fact more people are buying which just pushes the cost higher.
We all know why the dollar is weak, right? As a country we have been able to take the national debt from under 6 trillion dollars in 2000 to over 12 trillion dollars and growing. (You thought your credit card bill was high). To do this we have to borrow money, as we borrow money it puts pressure on the U.S. Dollar. With 12 trillion dollars owed and economic stimulus still being rolled out in one form or another, don't expect the pressure to be taken off fuel in this segment anytime soon.
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"5 years ago I met Glen at an OPIS Conference. I was impressed by his knowledge of the petroleum industry. Ever since, I have been in touch with him. Glen has selflessly guided me by providing solid facts and figures to solve various business problems"
Virind Guiral, eSourcing Manager Penske Truck Leasing
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New Web Site coming November 6th
Please dont forget to visit our blog!
Sokolis Group
in the
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How Are You Fueling? We Are Feeling Good!
This is the Sokolis Group new theme for 2010. Through the years we have realized the reason why our business model has been successful to this point is we know how well our clients and potential clients are fueling. We have the time, resources and expertise to understand the fleet fuel market and make life easier for the clients that we represent.
When talking to most companies that don't partner with us, they really don't have any idea how well they are fueling because they don't track the fuel deals they may have in place, don't audit their fuel purchases to know if they received what they paid for and if it was at a good fuel margin. How could they?
Depending on most companies size fleets it would take several hours a week to several days for someone to do a weekly fuel audit. Does anyone in your organization have that kind of time to spare? It would also require someone to understand the fuel taxes for the different states you travel. As well as buying a subscription to OPIS (Oil Price Index Service) for $50 for each city a month you buy fuel in.
Then you or your staff member would have to decide, I have this information, what does it mean or how are you fueling? You might be fleet fueling. You might be fuel auditing. You might even have an idea that your deal is good.
We know all of the answers to those questions because we are fuel management and fuel consulting experts. So we are feeling good. Do you want to feel good to? Click here
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We still want to hear from you!
The Fleet Survey is still OPEN, so click here to let us know what you think. | |
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