What’s really going on at your fuel site?
Retail petroleum fraud can be carried out in multiple different ways, including:
- Purposely adulterating data
- Interfering with dispenser calibrations
- Manipulating firmware to ensure a consistent percentage error
If one or all of these practices are taking place at your station, it can be difficult to correctly determine your daily variance and establish if you are experiencing fuel loss. When there is no effective fuel management system in place, this is easier to assume than collating and reviewing fuel data which can be sparse and inconsistent.
Other Reasons for a stock variance?
Often, the answer is tank leaks or saturated vapour loss, theft or delivery discrepancy – two incidences that can have major consequences for the environment, and in turn, for you. These include:
- Up to $1m in EPA fines and extensive clean-up costs
- Temporary site closure, leading to loss of profit and customers
- Contribution to air pollution and greenhouse gases
- Contamination of soil, groundwater and local environments
Without a proper fuel management system in place that can provide you with the cause, location and size of your variance, knowing if you have fuel loss and establishing the source will be difficult to determine. Not knowing if a loss is abnormal or not can lead you to ignoring a dangerous or costly situation.
How can Fuel Management tools help companies?
- Correctly calculate your daily variance in stock
- Establish whether this variance is normal or abnormal
- Determine where the abnormal loss is coming from, and what is causing it
Ensuring you have an effective and efficient fuel management system in place can take the work out of monitoring stock variance by utilising automation technology.
How Fuelsuite can help turn your business around?
Fuelsuite is an all-in-one fuel management system that brings together EPA compliance, fuel inventory, delivery and reconciliation. It gives you the tools to effectively manage your stock levels and fuel consumption, so if you’re experiencing stock variance you will instantly be able to determine whether your losses are:
- Normal or abnormal
- Caused by a tank leak
- Due to technical fault
- Following a continuous pattern
This information allows you to quickly and effectively rectify the issue, saving time, money and reputation, allowing you to continue to run a reliable and profitable operation.
Regardless of your individual priorities and risks, understanding your stock variance is vital. EMS are a leading provider of Wetstock management, achieving improved fuel monitoring solutions through industry-leading technology and advice.
To find out how Fuelsuite can give you complete visibility over your Wetstock management, click here to contact EMS