BP introduces diesel cap for fuel card users
03 August 2016
Author: Daniel Puddicombe
BP Fuel Cards has introduced a fuel price guarantee which it says could help fleets cap their fuel spending and protect their business against price increases.
Known as the BP's Fuel Price Guarantee, the service caps the price of paid on diesel for a set period and volume while allowing users to benefit from any price drops.
Users will need to sign up to service via UK Fuels or BP Fuels. Once signed up, customers will be given a BP Plus fuel card which can be used to buy fuel across the retailer's network. Fleet managers will also receive a monthly report showing how much has been saved due to the cap.
Customers who sign up to BP's Fuel Price Guarantee will pay a monthly fee and be invoiced at the capped price or the pump price - whichever is lower - until a pre-agreed volume is reached. Once the agreement expires, customers can choose whether to subscribe to the next available capped price or move to an alternative card.
"Fuel price volatility can have a meaningful impact on a business's profitability, cash-flow, competitiveness and overall ability to do business," said James Field-Davis, BP's Fuel Cards marketing manager. "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."