SOUTH PORTLAND, Maine, Aug. 8 /PRNewswire-FirstCall/ -- Wright Express
Corporation (NYSE: WXS) and Oil Price Information Service (OPIS) have joined
together to develop exclusive online tools that can help Wright Express fleet
customers reduce fuel costs by providing an overview of all local area fuel
prices, and showing how a fleet's fuel buying practices compare to the local
market average. It is the first benchmarking tool of its kind and allows fleet
managers to quickly and easily grade their fuel buying performance against
their peers. Fleet managers will be able to spot branches or drivers who are
paying more than the market average and work to alter that behavior.
The tools consist of reports that integrate OPIS fuel price data with WEX
individual fleet fuel transaction data and offer high-value, pre-calculated
fuel price information reports through WEX Online to fleet managers and
business owners to help them better control and even possibly reduce their
fuel expenses. The three reports have the potential to redirect fuel-buying
behavior based on customized geographic fuel price information and purchasing
habits:
* Market Brand Report: Select a geographic area for fuel price information
then build a report from selected cities, or metropolitan statistical
areas that gives comparative data on price per gallon (PPG) across the
market, comparing the fleet customer's costs, indicating where the
customer can save money.
* Site Saver Report: Select a geographic area for fuel price information
then build a report from selected cities, counties, or zip codes, that
provides weekly average PPG by week or month, ranking area sites from
low price to high price and compares what the fleet customer paid in
total dollars for fuel in the area versus what the customer would have
paid based on the area average price, as well as other comparison data.
The fleet customer is also able to conduct fuel price site analysis
through site radius mapping.
* Driver Report: Select a geographic area for fuel price information then
build a report from selected cities, counties, or zip codes that shows
the area average PPG and indicates which drivers are paying above or
below the market average fuel price; in addition, drill down to view
individual driver transactions.
The OPIS Fuel Price Tools are available online to Wright Express customers
who use WEXOnline(R), the company's comprehensive web-based account management
program.
About OPIS
OPIS is the world's most comprehensive source for petroleum information,
products and prices from the refinery to the pump. OPIS distributes the most
accurate, reliable and referenced petroleum prices via fax, newsletter, e-
mail, Internet, third-party vendors, and through one of the nation's first
commercial on-line services -- PetroScan. OPIS is comprised of more than 40
information specialists, including the most experienced editors and pricing
experts in the business. Pricing experts track more than 70,000 rack prices
for heating oil, gasoline, diesel and kerosene, and thousands of contract
prices for jet fuel, LP-gas, residual fuel, and ethanol. More than 85,000
retail gasoline prices are also tracked daily. OPIS editors not only cover the
market, and report breaking stories -- but also provide inside analysis on
what the trends mean and how they could affect prices and purchasing
decisions. For more information on OPIS, please visit http://www.opisnet.com.
About Wright Express
Wright Express is a leading provider of payment processing and information
management services to the U.S. commercial and government vehicle fleet
industry. Wright Express provides these services for more than 300,000
commercial and government fleets containing more than 4 million vehicles.
Wright Express markets these services directly as well as through more than 85
strategic relationships, and offers a MasterCard-branded corporate card. The
Company employs more than 640 people and maintains its headquarters in South
Portland, Maine. For more information about Wright Express, please visit
http://www.wrightexpress.com.
Contact:
Jessica Roy
(207) 523-6763
Jessica_Roy@wrightexpress.com
SOURCE Wright Express Corporation 08/08/2005