November 21, 2023
The Benefits of an Effective Wetstock Management System
When it comes to Wetstock Management, every drop and second counts.
For many fuel retailers, the term “wetstock management” means stock control, tank level measurement or leak detection. But true wetstock management is much, much more. It’s the complete end-to-end management of fuel inventory — from the moment a fuel delivery is ordered, pumped into the tanker and dropped into the storage tank, right through to when it is pumped into a vehicle and accounted for in the reconciliation process.
Wetstock management solutions not only help to protect the environment but end-to-end wetstock management can also enable fuel retailers to have a complete enterprise-view of their fuel inventory. This means that not only are they more in control of their fuel at each and every site they own, but they also only have to reorder deliveries when absolutely necessary – thus reducing their carbon footprint, as they are able to order the right amount of fuel at the right time to sustain business.
Recently Dover Fueling Solutions (DFS) ran a wetstock monitoring proof of concept (POC) across 10 stations for 6 months. Although tank performance across all stations was within legal tolerance, DFS uncovered many previously unseen issues. This included identification of actual losses of fuel equating to 66K litres per year!
Real World Results
The DFS wetstock management systems detected 4 tank leaks, amounting to approx. 9,875 litres of fuel lost to ground. An estimated 39,000 litres would have been lost had these leaks remained undetected for 12 months. This accurate and early detection of leaks has led to a reduction of environmental risks and financial savings* by significantly reducing loss of fuel as well as leak clean up costs. If the leaks had remained undetected for 12 months, these 4 leaks could have resulted in over 500K Euros in total costs to the retailers.
Fuel management and monitoring can transform fuel retail businesses, while providing a whole new world of environmental protection for the future, significantly reducing the risk of fuel loss to the ground. In reality, a great wetstock management solution can prevent instances of fuel leaks to the downstream fuel industry, with experts recognizing the importance of “watertight” wetstock management services to make sure the environment is as protected as possible when it comes to conventional fueling solutions.
Trust DFS to help with your Wetstock Management and your journey to a more sustainable future, today.
*According to US EPA statistics, the average clean-up cost for an undetected leak is approx. $130,000 excluding cost of loss of fuel, fines, and reputational impact.