The coronavirus pandemic affected nearly every facet of life as we know it. One of the hardest hit sectors, though, was the fuel industry. The fuel supply chain has seen devastation in the wake of the pandemic, and though conditions have certainly improved since the start of COVID-19, we’re not back to normal just yet. The condition of the fuel supply chain impacts nearly every driver, but for companies with large fleets, the impact is even stronger. So, how exactly has the coronavirus pandemic impacted the logistics industry, and how can we move on?
Nationwide Fuel Shortages
In normal conditions, drivers in your fleet probably didn’t have to worry about whether there would be gas when they pulled up to the pump. The coronavirus, though, has changed all that. With fewer resources available and fewer people available to work at all points of the fuel supply chain, fuel delivery has been slower all across the country. In many areas, this slow-down has led to fuel shortages or even droughts. Additionally, the demand for fuel has changed so rapidly that the supply chain has struggled to keep up. In the beginning, there was much less demand since so many people were working from home. Now, many regions find themselves with the opposite problem.
Increased Prices Across the Board
Supply and demand has also led to increased fuel prices for people throughout the country, an issue that trucking fleets have had to deal with. The price of crude oil fell towards the start of the pandemic and has steadily risen, causing prices to rise at the pump as well. As case numbers have surged and then steadied, the price of crude oil and gasoline has gone up and down. These constant changes can make it difficult for business owners to predict an accurate fuel budget for their fleets, impacting their bottom line.
Looking Toward the Future
It’s not clear when (or if) the coronavirus pandemic will come to an end. So, how are we supposed to move forward? Keeping a close eye on your fuel usage can give you some peace of mind about how your fleet is currently operating, so when conditions change, you have a baseline to operate from. You can also focus on ensuring your fleet maintains peak fuel efficiency to make the most of your fuel budget. Finally, you might consider working with a fuel logistics provider like Source One. We are proud to provide a wide range of petroleum and alternative fuels delivery and logistic services, helping to keep your fleet going no matter what. Contact us today to see if we can help.