Control your fuel prices.
Put the brakes on volatile fuel prices with Pricelock. Fuel price volatility can put extreme pressure on fuel budgets for companies that transport goods and services. With growing fuel consumption from emerging markets such as China and India, inflationary concerns, geopolitical events and unexpected natural disasters, fuel price movements are anyone’s best guess.
Fuel Price Protection
Pricelock’s fuel price protection enables companies of all sizes to protect their fuel budgets from volatile fuel prices. Companies can now set their desired fuel protection price and cap their exposure to fuel costs—with no administrative hassle or change to how they currently purchase their fuel. At a fraction of their fuel spend, companies can now eliminate budget variability, protect their operating margins and ensure earnings stabilization.
How the Program Works
Fuel price protection is simple. You can model fuel price protection scenarios online and select the plan that best meets your company’s fuel usage and protection needs. Fuel price protection is based on four key elements:
- Type of fuel: select gas or diesel
- Desired protection price level: set your fuel protection price
- Gallons per month: determine the number of gallons to price protect based on your fuel consumption needs
- Length of protection plan: define the length of price protection from 3 to 18 months
Once you have defined your company’s protection plan, you pay an upfront, affordable fee to execute that plan. If the price of fuel rises above the protection price during the protection term, Pricelock pays the difference to offset the higher cost of fuel. If the price of fuel falls below the protection price, then your company directly benefits from lower fuel costs.