Gas and diesel costs are major concerns for fleets of all sizes. Whether a company is responsible for making direct store deliveries within a city or long-haul trips across the country, the price of oil is always a significant factor, especially if the business hasn't yet employed route planning software.
Because the volatile price of oil from overseas can lead to changes in final pricing at the pump, many business owners and politicians have advocated for more domestic drilling. The move is a way to lessen oil costs and help companies with fleets to reduce the amount spent on fuel. This could help them reinvest in their businesses and enhance operations in other ways.
Executives confident in domestic oil
According to new research, most energy executives are confident the United States won't need to rely on foreign oil for much longer. A survey conducted by the KPMG Global Energy Institute revealed almost two-thirds of these professionals think the country could be energy independent by 2030. This survey found a 10 percent decrease in the number of respondents who assumed the U.S. could never wean its dependence on foreign oil, as that number plummeted from 27 percent last year to only 17 percent this year.
While 62 percent of those polled thought 2030 was a reasonable timeframe for the country to rely solely on domestic oil, others were even more confident. Twenty-three percent believed the U.S. will be energy independent by 2020.
More investment, better fuel economy also important
Many domestic energy professionals hinted they would be expanding capital spending over the coming year, indicating they may be putting more of a focus on American energy exploration and project expansion. This, combined with increasingly improving fuel economy in American vehicles, could play a role in U.S. energy independence. Increased drilling coupled with lower demand for fuel, thanks to stringent federal standards, will help the U.S. rely less - or not at all - on foreign sources, according to CNBC.
As domestic fleets wait for the U.S. to become energy independent and gas and diesel prices to drop, they may do well to implement the use of route optimization software to lower the amount they spend on fuel and limit miles driven, whether they're on a local, regional or long-haul route.