Portland launches new fuel pricing service

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by Emily Atkins

Fuel specialist Portland is introducing a new Canadian pricing service, Portland Pricing.

The service provides companies with the opportunity to monitor and reduce fuel spend, using a dedicated online toolkit.

Diesel fuel prices can have a serious impact on budgets, regardless of whether an organization purchases fuel itself or contracts this part of its operation out. In the last 12 months alone, the average Canadian diesel rack price has fallen as low as $0.95 per litre and risen as high as $1.72 per litre, making it essential to reflect accurate fuel costs in transportation agreements and to secure the lowest possible price versus the wholesale base cost.

Portland operates a Canadian office in Hamilton, Ontario, with a global headquarters in York, England. The company has been supplying its fuel pricing service in the UK for over a decade and has a long-term partnership with Logistics UK and its members. Logistics UK is one of the largest UK trade associations and the only business group in the country to represent every sector of logistics.

Following this successful partnership, Portland has now become the official provider of fuel price information to CITT (Canadian Institute of Traffic and Transportation) and its members, providing simple, actionable insights to deliver effective fuel price management and cost savings.

In return for a monthly subscription cost of $80 + taxes, businesses can have visibility of the underlying wholesale fuel cost to track premiums charged by suppliers using a full price breakdown, gain access to an industry-leading Fuel Surcharge (FSC) Calculator and understand when to buy to take advantage of market movements.

Portland’s service also offers live pricing updates, a daily market commentary and an exchange rate tracker. All these services are grouped together in one simple toolkit covering every part of the supply chain, with a five percent discount available to CITT members, increased to 20 per cent on the first invoice.

“We are excited to extend our dynamic pricing service into the Canadian market. At Portland we have always tried to make sense of oil and energy markets for the benefit of our customers and to be easy and straightforward to work with, which is why I believe the toolkit we offer is so valuable,” said Conchur Brennan, general manager of Portland Fuel Canada.

“Many companies will benefit from having access to this fuel price data and our services are designed to work with them all, regardless of the organization size”.

The Portland Pricing service for Canada is now live and the day-to-day operation is managed by Conchur Brennan in Hamilton, with support from Portland’s Analytics team in the UK.