The City of Albuquerque, N.M., has renewed its fuel hedging agreements to lock in lower fuel prices for the year ahead that's expected to save the city $1.4 million.
Fleets can manage the risk of rising fuel prices with financial instruments known as fuel hedges.
The City of Albuquerque, N.M. has saved more than $1.4 million dollars in fleet fuel costs via a hedging program that began in 2011. GF spoke City officials about the program and how the City set it up.
A quarter of fleets surveyed report a fuel budget increase of more than 25 percent in the past five years. In addition to more traditional cost-reduction strategies, fleet managers discuss new methods they’re using to reduce fuel expenses.
FORT WAYNE, IN – Fort Wayne’s City Council has approved new three-year fuel contracts for the City’s fleet, which covers diesel, no-lead gasoline, and B20 fuels.
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