Protecting Your Business From Gas Prices
With the news today of record gas prices coming to a neighborhood near you soon there are steps your business can take to deflect some of these costs. With all of the mitigating factors to growth in the economy from high fuel prices to diminishing home equity and tight credit standards many are looking for ways to save money.
First and foremost do not rush out to fill your tanks. Not only does this have a potential negative effect on supplies it adds weight to your vehicle which decreases economy. Whenever possible run your take half full which can save up to .5% depending on the vehicle. This may not sound like much but at $4 per gallon it and at 15k miles a year you'll have enough money to buy an extra pair of shoes by year end. Next make sure your air filter is clean and in good working condition. Air filters should be replaced every 10-15k miles and allow your car to take in air and increase the efficiency of the fuel burn. By keeping this filter clean your engine produces the maximum amount of horsepower which in turn allows you to get up to speed without consuming as much gas. Air filters are cheap and most can replace it themselves in under five minutes but as always consult your manual.
Perhaps the most important factors in increasing your fuel efficiency deals with your tires. First make sure they are properly inflated. Next make sure they are properly aligned. Properly inflated and aligned tires can gain over 5% mileage versus those under inflated or pulling to one side or another. A few years ago at $1 per gallon the costs of an alignment were often much higher than any potential gains from increased efficiency. At $3 and $4 per gallon the cost of an automated four wheel alignment will often be much less than the costs of not aligning your wheels. Figure a vehicle getting 25 miles per gallon versus one getting 27.5 per gallon with all of these fixes in place driving 20,000 miles per year. At 25 miles per gallon the vehicle would consume 800 gallons or $3200 in fuel at $4 per gallon. At 27.5 mpg the same vehicle would consume 727 gallons or $2900 in fuel. For five minutes spent inflating tires and perhaps $10 in fuel filters you could end up saving $300 on an already fuel efficient vehicle. Now run the same numbers on a gas guzzler getting 15 and 16.5 per gallon. At 15mpg the vehicle consumes 1,333 gallons or $5,333 in fuel. At 17.5 the same vehicle consumes 1142 or $4571 in fuel for a total savings of almost $800!
The moral of the story is that even a modest ten percent gain in fuel economy for your work trucks spread out over 10 or 15 vehicles can save close to 10k in an average year at these fuel prices. Take a minute on the next warm day to check your tire pressures and by year end you'll have put some money back in your pocket.
We'll be writing about additional ways to save time and money for your small business and how to help gain new customers in the coming days. Welcome to our blog!
