PHH Arval, Pricelock team for fuel price protection service

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PHH Arval has announced a strategic partnership with Pricelock Inc., an online provider of fuel-price hedging solutions, to provide fuel price protection to its clients. Effective immediately, PHH Arval says it can help fleet managers protect their organizations against unpredictable fuel prices and ensure budget predictability.

“PHH is committed to identifying new and innovative ways for our clients to control costs,” says Steve DiBiagio, PHH Arval’s senior vice president of strategic alliances. “We have selected Pricelock’s fuel price protection program because it is a proven easy-to-implement way for our clients to manage fuel costs.”

Pricelock fuel price protection is designed to help companies of all sizes control their fuel budgets through a plan that reimburses them when the national average fuel price rises above a pre-established level, minimizing exposure to price fluctuations by establishing a stable gas budget and adding predictability to the bottom line.

“Pricelock is delighted to work with PHH Arval to help its clients stabilize their fuel budgets,” says Naveen Agarwal, chief operating officer of Pricelock. “Given the erratic behavior of oil prices in recent months, fuel costs are an even greater source of concern for fleet managers. Our approach to fuel price protection is designed to eliminate price volatility and bring our customers peace of mind.”

For more information on Pricelock fuel price protection, visit: www.pricelock.com.