A new service is smoothing fuel costs for small to medium sized hauliers. Portland Fuel Price Protection absorbs fluctuations in the market on small volumes with no change to their clients’ supply procedures.
The service operates as a contract which specifies a rate the client agrees to pay over a set time. After purchasing fuel as usual, at the end of the contract the difference between actual fuel spend and the fixed rate is settled.
While a market fall could result in paying over the odds, clients are protected from the volatility of the market, and afforded predictability for their budgets.
PFPP offers to fix the price of your fuel on a monthly or even weekly basis and for orders as small as 50,000 litres per month.
These strategies are already used by big corporations but founder James Spencer who worked with BP believes there is a demand for these services among smaller companies.