The 5 Biggest Mistakes to Avoid when Buying Bulk Fuel
Buying bulk fuel can be a bit of a challenge. Now, on paper, it seems simple: just call up your fuel supplier when you need fuel and they’ll deliver it. However, fuel prices change often due to fluctuating supply and demand. Not all fuel suppliers are created equal. If you don’t do your due diligence ahead of time, you could end up in a tight spot, in need of fuel, and having a hard time getting it at the right price.
As you plan on buying bulk fuel, here are five mistakes you should avoid.
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Not Doing Research
Do you know when is the best time for buying bulk fuel? Do you understand why prices are up or down right now? Do you know if you’re getting the best price on bulk fuel? You probably know by now that the fuel market is perhaps the most volatile market on the planet. Although it may be easier to just buy fuel and then put out of your mind, you can actually end up saving money in the long run by doing your research and educating yourself. Instead of just buying fuel, spend a few minutes getting answers to simple questions like: “Why did prices go up today? What is causing the fuel price changes? When is the best time to refill my fuel storage tanks? Follow the fuel exchange to understand how fuel is priced in the US.
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Only Buying Bulk Fuel When You Need It
If you don’t have a fuel plan in place, you will always be at risk of not getting fuel when you need it most. And if you’re like most businesses that rely on bulk fuel, running out of fuel will bring your business to an abrupt stop. To make sure you never run our of fuel and have it always available is to have a detailed fuel plan. Find out how much fuel you use each day, week, month, and year. Then work with a supplier who can guarantee you always have the fuel you need. One of the best routes you can take to avoid running out of fuel is to have fuel storage tanks on site. A fuel supplier like Moffitt can provide fuel tanks for you and develop a plan to always keep them full.
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Using a Single-Source Fuel Supplier
Before you commit to buying bulk fuel from a fuel supplier, find out where they get their fuel from. If they have only one source for their fuel, they run the risk of fuel shortages and the high prices that come with them. If their source is low on fuel and charging higher prices, the supplier will follow suit. Make sure your fuel supplier has a network of fuel sources. An honest and trustworthy fuel supplier will provide you with that information to ensure they can meet your needs. The more prepared your fuel supplier is, the more dependable your own supply and pricing on fuel will be.
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Not Getting to Know Your Suppliers
Believe it or not, not all fuel suppliers have great customer service. Especially in times of disaster, a good fuel supplier should be available to you to help meet your fuel needs. You don’t want to be talking to voicemails and piling up unreturned calls when you need fuel most. Most of all, you need a fuel supplier who is available 24/7. The best way to ensure good service is to build a good customer relationship with them. Simply get to know them. You want a supplier who is not just there for you, but one who understands your business and your needs and can anticipate them.
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Avoiding Long-Term Commitment
Contracts are sometimes a dirty word in business. However, when it comes to buying bulk fuel, a long-term contract could be a life-saver for your business. First of all, it guarantees fuel supply, even in emergencies. Secondly, it locks in a fuel price. This means you can set aside your worries of a volatile market going up and down. You can budget each month and know exactly ho much your fuel costs are going to be. Best of all, you can negotiate a price with your fuel supplier that makes sense with the volume of fuel you need.
If you need a trusted fuel supplier who will put your needs first, go with Moffitt Services. With over 70 years of experience, we know fuel and we know service. Contact us today to order fuel and let us make sure you have it when you need it, always.
