In the fuel industry, there are five common sources of fuel loss. When you’re familiar with these sources, you can successfully put the right measures in place to both identify and prevent them.
Here are the five most common sources of fuel loss:
1. Delivery Discrepancy
It’s important to know, without a doubt, that all the fuel from the delivery truck made it into your tank. You should have a process for confirming bill-of-lading accuracy and have the right technology in place to protect your fuel assets and ensure that you receive what you pay for. Having such measures in place will decrease the likelihood of fuel loss through delivery discrepancy.
2. Meter Drift
Your fuel meters measure how much fuel is dispensed, but these meters are not foolproof. Everyday wear and tear can keep your meters from performing accurately between calibrations. If you don’t calibrate and maintain, the accuracy of your meters may be off, and you’ll give customers more fuel than they paid for.
3. Theft
There’s no denying that theft can do a number on the profits of your service station. Thieves consistently get more creative in stealing fuel, sometimes taking it straight from underground storage tanks. They can also bypass dispenser meters and drive off without paying – along with many other sneaky tactics.
4. Evaporation/Temperature Loss
Depending on the temperature, fuel will expand or contract. This can happen in the delivery truck or the underground storage tank. When it’s cold, the fuel may contract in the truck and cause a variance between the delivery amount and the bill of lading. Or, if the outdoor temperature is warmer than below ground, fuel may contract inside the tank and result in the appearance of loss – without you having lost anything.
5. Storage Tank Leaks
Storage tank leaks are the most straightforward form of loss, and they are also the most urgent. Not only do your profits take a hit during a storage tank leak, but such a leak can also bring about hazardous environmental and regulatory repercussions. There are many solutions available to prevent storage tank leaks, though, like SIRA, automatic tank gauges and alarm management services.
Preventing Fuel Loss
Fuel loss is a major issue for service stations across the country. If you need some help to combat fuel loss, contact us.