The Car and Truck Fleet and Leasing Management Magazine

WEX Extends Its Existing Fuel-Price Risk Management Program

March 21, 2013

WEX Inc. has extended its existing fuel-price risk management program through the third quarter of 2014. On March 18, the company said it locked in a fuel price range for approximately $3.43 to $3.49 per gallon during this period.

The company said it has hedged approximately 60% of its exposure for the first quarter of 2014, 40% of its exposure in Q2 2014, and 20% of its exposure in Q3 of 2014. The company said it intends to hedge approximately 60% of its domestic fuel-price-related earnings exposure in every quarter on a rolling basis.

The chart below shows the prices and approximate percentage WEX locked in between Q1 2013 and Q3 2014.

  2013 2013 2013 2013 2014 2014 2014
Average low end of range 3.42 3.44 3.47 3.36 3.38 3.35 3.43
Average top end of range 3.48 3.5 3.53 3.42 3.44 3.41 3.49
Approximate % locked in 80%* 80%* 60%* 60%* 60%** 40%** 20%**

*At the time of execution, 2013 hedges were established without consideration of Fleet One volumes (WEX acquired Fleet One in October 2012).
**2014 hedges have been established with consideration of Fleet One volumes.

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