Whether you're hauling standard freight or specializing in hot shot trucking, fuel is undoubtedly one of your biggest expenses. With diesel prices constantly fluctuating and often trending upward, finding ways to save at the pump can have an impact on your bottom line.

As prices rise, fuel cards have become an excellent way for owner-operators to slash their fuel costs and streamline their operations. These cards are specifically designed for the trucking industry, offering discounts, perks, and features tailored to the needs of drivers like you. 

For hot shot truckers, who often operate smaller trucks and make more frequent stops, the right fuel card can be a key to managing expenses and boosting profitability. But how do you choose the right fuel card for your business? With many options on the market, knowing what to look for in the perfect fuel card is important.

What Is a Fuel Card?

For trucking professionals, fuel cards (also known as fleet cards) offer a beneficial payment method specifically designed for the transportation industry¹. 

Fuel cards are typically issued by major fuel companies or banks and can be used at specific gas stations or networks of stations. When you use the card to purchase fuel, instead of paying cash or using your own personal credit card, the cost is charged directly to your company’s account.

When it comes to fuel cards, not all savings are calculated equally. Fuel card providers typically use two main models for calculating savings²:

• Retail-Minus:This straightforward approach deducts a fixed amount from the per-gallon price each time you fuel up. For example, if the discount is 10 cents per gallon and the pump price is $3.50, you'll pay $3.40 per gallon. It's simple to understand and predict.
• Cost-Plus: This method is a bit more complicated and uses the Oil Pricing Information Service's (OPIS) base price (a more standard oil pricing system). Your total price includes this base amount plus any taxes, transportation costs, and additional fees.

Some fuel cards offer a "better of" option, automatically applying whichever discount (retail-minus or cost-plus) is more favorable at the time of purchase. This feature ensures you're always getting the best possible price.

Why Opt for Fuel Cards as an Owner-Operator?

Significant Cost Savings

The primary benefit of fuel cards is the potential for substantial savings on fuel purchases. 

Many cards offer discounts ranging from a few cents to over 50 cents per gallon. For hot shot truckers who might make multiple trips in a day, these savings can add up quickly, potentially saving thousands of dollars annually.

Help ManagingCash Flow 

Fuel cards often come with flexible payment terms, helping you better manage your cash flow. Instead of paying for fuel out of pocket and waiting for reimbursement, you can use your fuel card and pay the balance later.

Simplified Expense Tracking and Reporting

Fuel cards provide detailed reports of all your fuel purchases, making it easier to track expenses, file taxes, and complete International Fuel Tax Agreement (IFTA) reports¹. 

Many cards offer online portals or mobile apps where you can access this information in real time, giving you a clear picture of your fuel spending at any moment.

Additional Perks and Discounts

Many fuel cards offer benefits beyond just fuel savings³. Depending on the card, you might enjoy discounts on maintenance, tires, lodging, and more. Some cards even offer roadside assistance programs, which can be a lifesaver when operating in remote areas or on tight schedules.

Top Fuel Cards for Owner-Operators

EFS Fuel Card

• Accepted at over 16,000 locations nationwide
• No transaction fees at in-network locations
• Customizable spending controls
• 24/7 customer support

With frequent stops being common, avoiding per-transaction fees can lead to significant savings⁴. The card's customizable spending controls allow you to set limits that match your unique operating patterns, providing flexibility for varying load sizes and frequencies.

Comdata Fleet Card

• Accepted at over 15,000 locations
• Retail-minus and cost-plus pricing options
• Robust expense management tools
• Additional discounts on maintenance and tires

Comdata's flexible pricing options make it an excellent choice for those who may have variable fueling needs⁴. The retail-minus pricing can be particularly beneficial during price spikes. The additional discounts on maintenance and tires are valuable for hot shot trucks that may require more frequent servicing due to higher mileage accumulation.

TCS Fuel Card

• Average savings of 63 cents per gallon at in-network locations
• No application or transaction fees
• Mobile app for finding discounted fuel locations
• Cash price or better at the pump

The TCS Fuel Card's high per-gallon savings can be huge, especially for those operating in regions with higher fuel prices⁵. The lack of fees and the mobile app for finding discounted locations align well with the flexible nature of hot shot work, allowing for spontaneous route changes without sacrificing savings.

Pilot Flying J Axle Fuel Card

• Accepted at over 950 Pilot and Flying J locations
• myRewards program for additional savings
• No annual fees
• Flexible payment terms

While the Axle Fuel Card's network is more limited than some competitors, its strong presence along major highways makes it an excellent option for hotshot truckers who frequently travel these routes¹. 

The myRewards program can provide additional value through savings on food and other travel necessities, which can be particularly beneficial for hot shot truckers making multiple daily stops.

DAT One Fuel Card

• Accepted at 8,000+ locations nationwide
• Average savings of $500 per month per truck
• No transaction fees at in-network locations
• Fuel advances available

The wide network of accepting locations provides peace of mind for truckers who may need to take on last-minute loads in unfamiliar areas³. The availability of fuel advances can be crucial for managing cash flow, especially when dealing with the varying load frequencies and sizes typical in trucking.

What Should You Look For in a Fuel Card?

Selecting the right fuel card for your owner-operator business involves more than just comparing discount rates.

Network Coverage and Acceptance 

Consider your typical routes and ensure the card is widely accepted in those areas³. A card with the highest discounts isn't beneficial if you can't use it where you operate. For truckers who may have more diverse routes, a card with broad national coverage could be crucial.

Discount Structure and Savings Potential

Understand how discounts are calculated. Some cards offer flat rate discounts, while others use retail-minus or cost-plus pricing. Calculate potential savings based on your average fuel consumption to determine which structure benefits you most.

Additional Perks and Services 

Look beyond fuel discounts. Many cards offer valuable extras like maintenance discounts, roadside assistance, or loyalty programs. These can provide significant additional value, especially for hot shot truckers who may accrue more miles and require more frequent servicing.

Fees and Charges

Be aware of all potential costs. Some cards charge application fees, monthly fees, or per-transaction fees³. For truckers making frequent stops, per-transaction fees could quickly erode fuel savings. Ensure the potential savings outweigh any fees.

Team Up With ACV Transportation

As you continue to build your hot shot career, why not boost your reputation and experience with a trusted partner? With ACV Transportation, you can access hundreds of car dealerships nationwide that are transporting cars from dealership to dealership. 

Sign up for our free load board to tap into this constant stream of hot shot loads—and start creating your own way forward with ACV Transportation.

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Sources

1. Naveed, S. (2023). Best fuel cards for truckers in 2023. LoadStop. Retrieved July 12, 2024, from https://loadstop.com/blog/fuel-cards-for-truckers
2. ATBS Staff. (2022, October 6). Diesel fuel cards for owner-operators. ATBS. Retrieved July 12, 2024, from https://www.atbs.com/post/diesel-fuel-cards-for-owner-operators
3. DAT. (2023, October 23). The DAT One fuel card: The ultimate fuel card for truckers. DAT. Retrieved July 12, 2024, from https://www.dat.com/resources/the-ultimate-fuel-card-for-truckers
4. Truckstop. (2023, February 4). Best fuel cards for owner-operators. Truckstop. Retrieved July 12, 2024, from https://truckstop.com/blog/best-fuel-cards-for-owner-operators/
5. TCS Fuel. (2024). Owner-operator fuel card. TCS Fuel. Retrieved July 12, 2024, from https://www.tcsfuel.com/fuel-card-owner-operator/