When you’re selling fuel cards, you’re not just selling convenience—you’re selling trust, transparency, and value. And nothing kills a deal faster than being unable to explain why fuel prices rise and fall.
To really stand out in your role, you need to understand PLATTS—a critical piece of the pricing puzzle. With a basic grasp of how PLATTS works, you’ll be able to handle pricing questions like a pro and build real credibility with your customers.
🔍 What Is PLATTS?
PLATTS is an independent global provider of benchmark prices for energy and commodities—including fuel. Think of it as the “stock market” for wholesale fuel.
Each trading day, PLATTS publishes a daily benchmark price for fuel products, based on trading data from refineries, fuel traders, and importers.
These daily prices are used across the UK and Europe to set wholesale fuel prices—including the prices your customers pay through their fuel card.
⛽ Which Fuels Does PLATTS Track?
PLATTS tracks wholesale prices for:
- Diesel (DERV)
- Petrol (Unleaded)
- Gas Oil
- Kerosene
- Jet Fuel
Most fuel card providers link their commercial pricing to PLATTS rather than pump prices to provide consistency and transparency to their customers.
💡 Why Should You Care as a Salesperson?
Because your customers do—or at least the smart ones do.
Fleet managers, logistics buyers, and procurement teams increasingly want to understand how their fuel is priced. And if you can talk knowledgeably about PLATTS pricing, you immediately set yourself apart from competitors.
🧠 How Does PLATTS Pricing Work?
Fuel card suppliers often price using a formula like:
PLATTS + Margin (e.g. PLATTS + 6p/litre)
That means your customer pays the weekly average PLATTS wholesale rate plus a small fixed margin for distribution, service, and profit.
The PLATTS rate changes daily depending on:
- Global oil prices
- Supply & demand shifts
- Exchange rates (especially £/USD)
- Geopolitical issues (e.g. war, refinery strikes)
🗣️ Example Sales Conversations
Customer: “Why has the price gone up this week?”
You: “We use a PLATTS-based model, which means prices follow the actual wholesale market. This week, crude oil prices rose due to tensions in the Middle East, which pushed the PLATTS benchmarks up.”
Customer: “What’s PLATTS + 6p mean?”
You: “That means you pay the average weekly wholesale benchmark rate published by PLATTS, plus 6p. It’s a transparent, fair pricing model that tracks real market conditions.”
Customer: “Is this better than pump prices?”
You: “Absolutely. Pump prices can be inflated by retail margins and often lag behind real market shifts. PLATTS-based pricing ensures you’re paying closer to true wholesale, which is fairer for high-volume users like you.”
📈 PLATTS vs Pump Prices
| PLATTS Pricing | Pump Pricing |
|---|---|
| Tracks wholesale market each week | Set by retailers (and slower to change) |
| Transparent formula (e.g. +6p) | Varies by location and brand |
| Great for fleets and B2B | Designed for consumer sales |
✅ Why PLATTS Knowledge Makes You Better at Sales
- Handles objections: You can explain price rises or volatility logically.
- Builds trust: You’re not just selling—you’re consulting.
- Differentiates you: Most reps can’t explain PLATTS. You can.
- Improves close rates: Customers value sellers who understand pricing.
🔚 In Summary
PLATTS is a key driver of UK fuel pricing. It underpins how fuel card suppliers build pricing and explains why rates change. If you can confidently talk about PLATTS, you don’t just look smart—you build credibility that closes deals.
So next time you’re in a pitch, try this line:
“Our pricing is based on the average weekly PLATTS benchmark—so you’re protected from inflated retail swings and always know exactly where your rate comes from.”
You’ll sound like a pro—and your customer will know they’re in good hands.
https://www.spglobal.com/commodityinsights/en/contributors/945198/sp-global-platts