In partnership with Vnomics, a developer of an onboard fuel optimization solution, FreightWaves has released an index that measures fuel economy averages throughout the U.S. organized by freight market. Users will be able to see the impact of weather, traffic, terrain, and holidays on class 8 vehicles’ fuel economies in average miles per gallon (MPG) reported on a two day lag.
Fuel economy has always been important for carriers. Incremental increases in MPG can mean the difference between being profitable and losing money on a load. Trucking is an ultra-competitive industry, so managing costs is an everyday activity. Fuel expense averages roughly 5-9% of a carrier’s total revenue, meaning five to nine cents on every dollar charged goes to pay for the fuel. Knowing which markets are experiencing lower fuel economies can help carriers price their moves more effectively while also alerting the operation to any anomalous patterns in fuel efficiency.
With the record number of truck orders coming through in 2019, users will also be able to see what kind of impact those newer trucks will have on the broader market and its behavior. Many fuel surcharge tables—a table many carriers use to illustrate how they pass along fuel cost to their customers—are based on fleets averaging 6.5-7 mpg. SONAR users will be able to identify any broader trends with fuel efficiency over time, knowing how they compare to the rest of the market.
SONAR users can type MPG.(market abbreviation) to see a two-year chart for any of the 135 freight markets in the U.S. Surprising patterns emerge in the data as each market has its own unique identity as driver behaviors change in each area. For instance, Los Angeles average MPG is elevated on Sunday compared to the rest of the week due to drivers taking advantage of lower traffic volume. In the snowier Midwest, markets see MPG decline as winter storms prevent efficient driving behavior.
Founded in 2008, Rochester, NY-based Vnomics Corp. provides advanced driver efficiency solutions that enable fleets to enhance driver fuel efficiency and improve fleet performance. The company’s True Fuel stand-alone driver engagement solution offers significant driver related fuel savings through a simple and precise driver tool that improves real-time driving efficiency. The company’s True Fuel stand-alone driver engagement solution offers significant driver related fuel savings through a simple and precise driver tool that improves real-time driving efficiency.