Driving Today

Locking in Your Gasoline Costs

New incentive program enables businesses to offer employees lower-cost gas.

In this era of economic woe and high fuel prices, it would be nice to have your employer defray some of your gasoline costs, wouldn’t it? Well, now Pricelock, an online company based in Silicon Valley, Calif., has launched a program that could let your employer do just that. Through Miles Ahead, employers can award ongoing or one-time discounts to employees based on personnel goals, employee tenure or performance measures. Using the system, employees can purchase gas at discounted or capped rates at 93 percent of gas stations in the U.S. with a cobranded gas reward card. Why not simply give out a prepaid gas card? Unlike one-time use gasoline cards, Miles Ahead is an ongoing program that employers can fully monitor, configure and change at their discretion at any time. While there is no doubt employees will like the savings they will experience, businesses can increase employee retention and recruit from a larger geographic area by decreasing the cost of gas for their employees.

“Miles Ahead helps employers provide a benefit that has a strong ROI and is highly visible to employees,” says Naveen Agarwal, CEO of Pricelock. “With benefits costs skyrocketing, employers are looking for innovative ways to help employees. It is a benefit that continuously reinforces company brand in the mind of the employee and that translates to higher employee loyalty and satisfaction.”

With the program, companies can choose between a discount per gallon, a cap per gallon, or a combination of the two. Companies pay a set fee per participant, which is available for as little as $25 per employee, per month. Pricelock maintains a cobranded website on which employers and their employees can keep track of fuel purchases and savings.

 

 



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