Controlling costs has never been more important if construction companies want to stay competitive and protect their bottom line.
Materials costs, a shortage of labour, rising fuel costs and power prices continue to place pressure on construction in 2023. Even though the shortage on steel has eased, there’s pressure on other supplies, such as concrete, cement, cabinetry, and glass, causing ongoing delays to completion times and a blow out to costs.
In 2023, construction companies need to employ smart tricks to keep business costs down. One of the costs you can control is fuel.
By finding ways to control your fuel costs, you can make a difference to your bottom line.
Here are 4 ways to control your fuel costs:
1. Upgrade your equipment
Older equipment can cost companies more to operate since it isn’t designed to be as efficient as newer models. If you have equipment, such as generators, vehicles or heavy machinery, that is known to be fuel inefficient, it may be time to upgrade.
2. Schedule your maintenance
Regular maintenance can lower fuel costs over time, so make sure your vehicle maintenance is up to date. This has the added benefit of helping to reduce unexpected vehicle downtime and costly repairs.
Pro Tip: Business Fuel Cards, you get exclusive discounts on vehicle-related expenses, such as tyres, oil, glass, servicing, parts, and more.
3. Plan your routes
Shorter routes are more efficient and cut down on fuel usage. With GPS tracking, you can identify the most efficient routes for your drivers. You can also use the Business Fuel Cards site locator to find the closest partner fuel stop.
4. Know your fuel expenses
Do you know how much you are spending on fuel? CardLink’s comprehensive reporting allows you to analyse spending and drill down to individual vehicles to compare running costs and identify opportunities for even greater cost efficiencies within your fleet.