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Blog Posts | September 28, 2017

Fuel Theft Affecting Your Bottom Line?

It’s a dirty word, and no business likes to hear it. That’s right—we are talking about theft.

Now, while theft may be a difficult topic to hear about, it is important to discuss. Whether you want to call it theft, slippage or misappropriation, industry stats tell us that’s where you will lose as much as five percent of your company’s fuel.

Fuel theft costs companies hundreds of thousands of dollars. We often hear about thefts that businesses experience; one company reported tens of thousands of litres of diesel fuel stolen over only a few weeks, valued at $18,000, $27,000 and $50,000! Imagine the impact on the business affected.

Whether it’s your staff casually helping themselves to your fuel or organized thieves stealing fuel to re-sell it – it’s a problem. But it’s not beyond your control.

The most practical step towards curbing theft is to track fuel usage.

While this may seem simple, it’s not. Many companies don’t track fuel usage at all, or their methods are ineffective.

4Refuel’s Fuel Management Online (FMO) system tracks and monitors fuel usage across your fleet, down to each piece of equipment.

Access to information about each fuelling transaction is available online via secure login within 24 hours. Have access to transaction details including exactly where, and when the transaction took place and how much fuel was delivered, at your fingertips.

This access gives you complete transparency into your fuel usage and consumption. Does one truck take more fuel than the rest? More than usual? If you use your own fuel tanks, our remote tank monitoring devices advise managers each time a tank is opened.

Fuel theft is a problem, and until you can measure each refuelling, you will continue to pay for losses on your bottom line. For many companies, fuel is the second largest cost next to labour, so you must pay attention to even the slightest fuel theft. With powerful reporting tools and access to all of your fuel data, you’ll quickly notice when theft is occurring and where to stop it.