Diesel price protection, explained for fuel-card companies
A diesel spike can break your cardholders’ fuel budgets. What price protection is, how it sits on top of your card, and how a pilot starts.
Diesel in 2026
Diesel
Feb. 23, 2026
Diesel
Sept. 21, 2026
Record high
+$2.72 a gallon in 7 months
Sept. 21 was the highest weekly price since EIA’s records start in 1994 (not counting inflation).
Source: EIA weekly diesel prices
What a spike does to your cardholders, and to you
13.5¢ → 16¢
Source: WEX Q2 2026 earnings supplement; WEX 2025 annual report (10-K)
A spike can break a fleet’s fuel budget. The fleet may then cut fill-ups or pay late.
Higher prices can lift card revenue, as WEX’s did. But WEX also said the higher prices meant more dollars lost on each bad account (earnings call).
What price protection is
The fleet picks a cap: the most it wants to pay a gallon. If what it pays averages above the cap, Hedjee pays it the difference, on the price after your discount.
| Compared | No protectionSay diesel jumps $1, as it did in March 2026 | With HedjeeSay the cap is $4.00 and the fee 5¢ |
|---|---|---|
| Average price paid, after your card discount | $5.00 a gallon | $5.00 a gallon |
| Hedjee pays back, on 1,000 gallons | $0 | $1,000 |
| Cost of protection | $0 | $50, paid up front |
| If diesel falls instead | The fleet pays less | The fleet pays less and owes nothing back |
It sits on top of your card
Each tool keeps its job. Hedjee adds a layer on top.
| Compared | What it does | With Hedjee added |
|---|---|---|
| Your fuel card | Takes cents off at the pump. Your network and reports help fleets buy well. | Same card, same discount. Hedjee pays back a rise above the cap. |
| Fuel surcharge | An extra fee on the fleet’s rates when diesel climbs. It isn’t meant to cover all its fuel. | The fleet keeps it. Hedjee pays on top of it. |
| Futures and swaps | Lock in a price ahead of time. Big companies like Sysco use swaps. | The same kind of protection. No deposits. Setup takes about 5 minutes. |
Source: OOIDA fuel surcharge guide; CFTC futures basics; Sysco 2026 annual report (10-K)
Where Hedjee fits
About 9 in 10
Source: American Trucking Associations
WEX says many of its customers are small and mid-sized businesses (annual report). Hedjee brings them the same kind of protection big companies buy, based on what they actually pay.
What you can do
Plan a small cardholder pilot: one group of cardholders and one place to offer it, like your portal or an email. No integration needed to start. Your discount and pricing stay yours, and you could earn a share of each sale.