Commercial fueling sites have specialized needs when it comes to procuring fuel. That’s where the Fair Fuel Index comes in. This blog breaks down how the index can improve your fuel-buying process.
What the Index is.
It is a fundamental, foundational tool essential for best buy analysis by using the index to create fuel benchmarks and scorecards.
What the Index is not.
Unique in that the index is not just a “poster price,” it can be applied directly to your fuel site(s) and directly to a customers’ profile.
What is considered to create the Index?
It considers all of the components needed to complete a best buy analysis:
- Fuel Raw Costs
- Freight, Taxes
- Margins throughout the logistics chain, etc.
Who is the Index for?
The Index is focused on the end-user and the end stream segment of the industry (city, county, town, commercial). The Fair Fuel Index is based on 1 of 2 baselines chosen by the user: the Average (contract average) or the Aggressive (the low rack). It applies to nearly every terminal in the US.
Why should I use the Index?
The index gives the user the same tools as the supplier/retailers that provides transparency to that portion of the supply chain. Its key use is benchmarking and scoring your fuel-buying performance.
First, we score the entire buying process.
Next, we benchmark so you know if you are getting a good deal – before you buy.
Lastly, after you have purchased, we give you a scorecard to compare with the Fair Fuel Index so you know how well you did.
How does the Index work with our ekos software?
This Index is foundational in our EKOS dashboards for best buy analysis and to establish benchmarks and scorecards. It links to our home rack and our rack network concept, so you can look at multiple racks across the country.
Want to learn more or get started?