Project Objectives
- Download and analyze fuel card transactions to ensure the accuracy of fuel type information.
- Compare Regular type fuel purchases to Regular type state average costs per gallon.
- Identify stations where REG fuel purchases are significantly above average.
- Determine potential areas for cost savings by avoiding specific stations.
Data Collection and Preparation
- Download fuel card transaction data: Obtain a report from the fuel card supplier covering the desired timeframe.
- Extract relevant information: Extract the following fields for analysis:
- Transaction date
- Fuel station name
- Fuel type
- Fuel quantity
- Fuel cost
- Vehicle identification
- Verify fuel type accuracy: Compare the recorded fuel type with the vehicle’s specifications. If discrepancies are found, make necessary corrections.
Data Analysis and Insights
- Calculate state average REG fuel cost: Determine the average cost per gallon of REG fuel for the specified region or state.
- Filter REG purchases: Identify REG fuel purchases that exceed the state average by more than 20%.
- Analyze driver and station data: Determine which drivers purchased at stations with significantly higher-than-average REG fuel costs.
- Identify potential cost-saving measures: Based on the analysis, recommend avoiding specific stations or fuel types to reduce fuel costs.
Tools and Techniques
- Data analysis software: Consider using tools like Excel, or specialized data analysis software.
- Data visualization: Create visualizations (e.g., charts, graphs) to better understand the data and identify trends.
- Statistical analysis: Employ statistical methods to analyze the data and draw meaningful conclusions.
Expected Outcomes
- Accurate fuel card transaction data: Ensure that fuel type information is correct.
- Identification of cost-saving opportunities: Pinpoint stations where REG fuel purchases are consistently above average.
- Recommendations for future fuel purchases: Provide insights to help fleet managers make more cost-effective fuel choices.
Note: This project can be further enhanced by incorporating additional fuel types such as SUP PRM DSL to gain a more comprehensive understanding of fuel costs.