FuelCASHBack Launches Fuel Hedging Program
– FuelCASHBack and partner Gas-Lock Advisors announced their program to lock in the price fleet managers pay for fuel and eliminate the risk of going over budget. This patent-pending process allows fleet managers to take back control over fuel costs and not pay a cent more when the price of fuel increases.FuelCASHBack extends the hedging strategy that big corporations and even utility companies use to lock in rates by not just locking in the wholesale price of a gallon of fuel, but also the retail price at the pump. When that fuel amount rises above the locked-in price, FuelCASHBack will rebate the company the difference. Simply stated, the higher the fuel price goes, the bigger the cash rebate. “There is time to be a leader on fuel hedging,” said Jeff Miller, CEO of Gas-Lock Advisors. “Fuel cost hedging is a new problem for everyone in the business. Fleet managers who address this problem now are savvy professionals who are getting ahead of the curve. They are dealing with a trend that many others will be scrambling to address in the coming months.”Each fleet is different and needs a customized program. FuelCASHBack works with each company by evaluating current fuel usage, the budget, and how fleet costs affect the overall picture. The FuelCASHBack programs can be adapted to fit a wide variety of needs.“FuelCASHBack understands the dangerous effects of soaring fuel prices and in turn built a process to help fleet managers guarantee their fuel budget and increase their companies’ bottom line,” said Hemant Lall, president of FuelCASHBack. FuelCASHBack is a division of SCA Promotions.