Northern Ireland price agency to fuel cost savings
The world's first commercial fuel oil price agency has been launched by a Northern Ireland entrepreneur with the commitment of bringing lower commercial fuel costs to businesses.
Donall O'Connor, founder of Fuelagents.com, said the new service will enable businesses to save as much as 10% on fuel costs which will assist in lowering operating costs
He said the web-based agency was an online broker which would give businesses a "more transparent" method of purchasing fuel products by comparing the latest prices from a large number of distributors and wholesalers.
The new venture has received the backing of Northern Bank which is providing a financial package to support the company.
Mr O'Connor, who also set up Connor Fuels, said the business was targeted at Northern Ireland businesses requiring a minimum of 2,300 litres and a maximum of 38,000 litres of fuel per order.
"At a click of a button, businesses can receive the best available rates for commercial fuel in the market on a 24/7 basis," he said.
"The result is that it lowers business costs and ensures that they are not locked into potentially costly credit contracts. We are seeking to aggressively expand the business and the support of Northern Bank has been vital to our success."
Fuelagents.com also plans to expand its business across the UK and the Republic of Ireland, with the support of Invest Northern Ireland.
In June, the new business model was presented at a fuel forum in Marbella, Spain, to attendees from major UK oil companies, wholesalers and distributors.