The Car and Truck Fleet and Leasing Management Magazine

Wright Express Extends its Fuel-Price Risk Management Program

March 11, 2008

SOUTH PORTLAND, ME – Wright Express Corporation has extended its existing fuel-price risk management program through the first quarter of 2010.


On Mar 5, the company purchased instruments to cover an additional 30 percent of its anticipated fuel-price-related earnings exposure for the last two quarters of 2009 and the first quarter of 2010. At this time, Wright Express has hedged 90 percent of its anticipated exposure through the third quarter of 2009, 60 percent of the fourth-quarter 2009 exposure, and 30 percent of the first-quarter 2010 exposure.

The company intends to continue to hedge approximately 90 percent of its fuel-price-related earnings exposure in every quarter, on a rolling basis. The instruments are designed to enhance the visibility and predictability of the company’s future earnings. The program uses instruments that create a “costless collar” based upon both the U.S. Department of Energy’s weekly diesel fuel price index and NYMEX unleaded gasoline contracts. The Mar. 6 purchase locked in a fuel price range of approximately $3.17 to $3.23 per gallon.

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