The Hampton Roads Chamber of Commerce announces a new program designed to offer chamber members fuel price protection and a commuter benefit solution for their employees.
In an unprecedented arrangement between ChamberSolutions, the member benefits department of the Hampton Roads Chamber of Commerce, and Pricelock, Inc., the company that provides fuel price predictability to businesses of all sizes, the Chamber is now offering members a simple, cost-effective way to price protect their fuel costs. The program minimizes a business’s exposure to rising fuel prices and protects their bottom line with no change to how they currently purchase fuel. In addition, the new price protection program offers an employee commuter benefit option that rewards chamber members’ employees with subsidized fuel costs.
“The new program literally puts the brakes on volatile fuel prices and releases the pressure fuel costs can place on business’ bottom line,” said Jack Hornbeck, CCE, President & CEO of the Hampton Roads Chamber of Commerce. “The ability to predict fuel consumption costs allows our members to forecast more stable pricing structures, fleet managers to more realistically budget for fuel consumption, and gives employers a unique opportunity for retaining employees.”
With Pricelock’s fuel price protection, businesses receive a payout when national average fuel prices rise above their set protection price. Fuel price protection does not entail pre-purchasing fuel, so businesses benefit from lower fuel prices at the pump when prices fall.
Pricelock’s employee commuter benefit enables employers to give their employees a fuel card with their company logo that provides a discount and/or cap on fuel prices. The program is customized to best meet an employer’s objectives and company budget.
To find out more about how this new chamber member program can benefit your business, contact Kenn Penn in the member benefits department at 757-664-2502, firstname.lastname@example.org.