How Owner Operators Can Reduce Fuel Costs
Remaining profitable with fluctuating fuel costs is top of mind for many owner operators. Even in uncertain markets, the right discounts and resources can help you stay in control of your business costs.
Last year alone, owner operators who contracted with J.B. Hunt saved $13.5 million in fuel costs, with an average of $7,300 in savings per person. With fuel surcharge options, significant fuel discounts and third-party tools, you have options to better manage fuel expenses while running your business your way.
What is a fuel surcharge?
A fuel surcharge is a settlement you can collect in addition to load revenue that helps offset the cost of fuel in your day-to-day operations. The surcharge is collected by the carrier from the shipper and is based on the U.S. Energy Information Administration (EIA) report on U.S. On-Highway Diesel Fuel Prices and is adjusted weekly to account for diesel fuel price fluctuations. Carriers can then pass down this fuel surcharge to owner operators transporting a load.
This is an important consideration for owner operators choosing a carrier to contract with, because getting 100% pass down of the shipper’s fuel surcharge is not a guarantee. And contracting with a carrier with a less favorable fuel surcharge pass down rate can come with significant business costs.
While contracting with J.B. Hunt, you can find fuel surcharge options to choose from, up to 100% of the shipper’s surcharge. In addition, owner operators contracted with J.B. Hunt can expect third-party fuel discounts that can save you up to $0.80 per gallon off the diesel pump price.
Start Saving on Fuel
How can owner operators save on fuel?
Before contracting with a carrier, ensuring that your operating agreement includes a fuel surcharge pass down is one of the most important steps to take. But with weekly fuel price fluctuations, predicting your monthly spending on fuel can be difficult, even with surcharges that help prevent sudden price spikes.
Utilizing industry tools and resources from third-party trucking vendors and organizations, such as the free tools from ATBS, can be an important step in tracking, predicting and mitigating your operational costs.
Using resources like these can help you by providing:
- Pre-trip inspection checklist
- Fuel surcharge calculator
- Fuel cost calculator
Keeping up with routine maintenance can also contribute to fuel savings, and owner operators contracting with J.B. Hunt can expect discounts from third-parties on tires, maintenance and more. Taking advantage of these discounts to keep your truck running efficiently can reduce fuel consumption and help you save on some of your biggest operational costs.
Here are a few things owner operators do to help their fuel economy:
- Maintain optimal RPM
- Limit idling
- Check air filters regularly
- Replace fuel filters on schedule
- Maintain tires and wheel alignment
The third-party owner operator discounts you can find at J.B. Hunt are just a few of the things you can take advantage of when you contract with us! We want to see you succeed, and we think J.B. Hunt can be a great fit for your business.
Driven for You™
You know your business best. If you’re looking for better ways to save on the cost of fuel as an owner operator, the advantages available to you when contracting with J.B. Hunt could be the answer you’re looking for.
Start saving on fuel! Give us a call at 1-866-384-7130 or pre-qualify today and let us help you find an opportunity that works for you.