BP Enters US Fleet Partnership with FedEx -- OPIS
June 05 2023 - 2:07PM
Dow Jones News
BP Plc entered an agreement with FedEx Corp. that makes the BP
and Amoco station network one of three national preferred fuel
partners for FedEx Freight and FedEx Express, the company told
branded wholesalers and retailers in an email Monday.
FedEx is developing a digital experience through its GPS system
to route drivers to preferred fuel sites, BP said.
"We are only receiving 4% of this volume today, so we expect
this partnership to drive millions of incremental gallons to your
BP and Amoco sites," the company said.
Beginning Wednesday, FedEx drivers will receive 8 cents a gallon
off on all BP and Amoco gasoline and diesel purchases and will
continue to pay with their WEX card. The fuel rebates will appear
as a credit on monthly statements.
BP and Amoco distributors will fund 5 cents of the rebate, and
BP will handle the remaining 3 cents. BP said it will reconcile the
amount one month in arrears and settle with the branded fuel
distributor for the previous month's volume.
BP said that fleet customers generally buy more fuel per
transaction more frequently than the average consumer. The average
fleet customer purchases 19 gallons per transaction and makes 33
transactions per month, BP said, quoting 2022 Fleetcor Technologies
Inc. data. Fleet drivers also spend an average $80 on fuel and $20
on non-fuel items per transaction.
FedEx Freight has a fleet of more than 25,000 vehicles and makes
average daily shipments of more than 110,000, the FedEx website
says.
This content was created by Oil Price Information Service, which
is operated by Dow Jones & Co. OPIS is run independently from
Dow Jones Newswires and The Wall Street Journal.
Reporting by Donna Harris, dharris@opisnet.com; Editing by
Michael Kelly, mkelly@opisnet.com
(END) Dow Jones Newswires
June 05, 2023 14:52 ET (18:52 GMT)
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