Motus, the premier vehicle management and reimbursement platform, today released its 2019 Fuel Savings Report, which compares the range of gas prices at stations across the U.S. The report revealed that the average difference between high and low gas prices was 5 to 12 percent per gallon – and those differences in nearby fuel prices can add up quickly. With gas averaging $2.75 per gallon, drivers can save anywhere from 13 cents to as much as 33 cents per gallon by looking for the cheapest fuel within three miles of a stop.
“Shopping around for fuel often pays off, but the range in prices also varies from state to state – so location plays a huge role in drivers’ potential savings when it comes to the cost of fuel,” said Ken Robinson, market research analyst for Motus. “For example, New York state frequently has higher average fuel prices, but the spread between high and low pump prices is narrower than in other parts of the country. On the other hand, Louisiana typically has some of the lowest average gas prices in the U.S., but a larger spread between high and low pump prices. This variation in price can add up quickly – especially for mobile workers that spend a large portion of their day on the road.”
The report also reveals that the average mobile worker can save the equivalent of 3-7 tanks of fuel every year by looking for lower fuel prices. In total, the mobile workforce could save $2.8 billion every year by looking for the cheapest fuel within three miles of a stop.
“Mobile workers are busy with tasks that are core to their jobs, which means that they simply don’t have time to research and find the lowest prices when they need fuel. Yet, finding cost-effective fuel is very important to their employers’ overall bottom line as well as their personal bottom line when it comes to personal fuel consumption,” said Craig Powell, CEO of Motus. “That is why we created tools like the Motus App, which pushes mobile workers the best fuel prices every time they fill up – keeping them in their business motion while balancing their employer’s needs and maximizing their personal gain. The Fuel Savings Report shows just how much potential there is for businesses to make adjustments that will dramatically reduce their spend on fuel and for mobile workers to gain.”
Additional findings in the 2019 Fuel Savings Report include:
- In 2018, the average retail price for a gallon of gasoline was $2.72. The price of the gasoline was determined by the cost of crude oil (which made up 56% of the retail price), federal and state taxes (17%), refining costs and profits (13%), and distribution and marketing (13%).
- Competition between gas stations, location and fuel delivery schedules account for the difference in price between gas stations.
- The average U.S. driver can save between $2 – $5 per tank of gas, depending on their location, simply by becoming more aware of local fuel prices and always choosing the least expensive station to fill up.
To access the full report, please visit: https://resources.motus.com/reports/2019-motus-fuel-savings-report
Motus is the definitive leader in mileage reimbursement and driver management technologies for businesses with mobile workers and fleets of all sizes. Only Motus leverages deep insights captured across the world’s largest retained pool of drivers to calculate personalized and compliant vehicle reimbursements, keep drivers productive and safe, and ultimately maximize returns and minimize risk for all aspects of the mobile workforce. Motus’s expertise also underpins the annual Internal Revenue Service (IRS) business mileage standard, the amount an individual can deduct for business vehicle expenses. For more information about the company, please visit www.motus.com or connect with us on Twitter, Facebook, or LinkedIn.