What Effects Can Boat Owners Expect from High Diesel Prices?
It is no secret that diesel prices have been on the rise in recent times. Not only does this affect everyday transportation costs, but boat owners are likewise feeling the financial pinch.
According to recent figures, the average price for a gallon of diesel is now above $5.22 per gallon. This has exceeded the previous high of $4.84 recorded in 2008. What effects will this trend have upon the maritime industry and what can the average boat owner expect? Let’s take a closer look.
Fewer Boaters on the Open Water
This first effect is arguably the most apparent. Boat owners who are already governed by limited budgets will be less likely to take regular excursions. Even if they are keen to enjoy the open waters, trip durations will often be reduced. As a result, marinas are slated to remain emptier for longer periods of time.
Opting for Fuel-Efficient Alternatives
As larger vessels tend to consume more diesel, it is also likely that some owners will be looking to downsize. However, this will also depend upon market conditions as well as the asking price in question.
Another potential option involves outfitting boats with more fuel-efficient engines. The same holds true in regard to hybrid vessels that employ solar energy as an alternative form of power. While this technology has yet to be fully embraced, its presence is already being felt throughout the maritime sector.
More Insightful Fuel Management Systems
High diesel prices also dictate that boat owners must be aware of how much they expect to pay in advance. This will help them to more accurately manage what might otherwise represent an extremely tight budget.
This is the same reason why marinas and service yards are turning to bespoke business management systems. Those provided by the team at DockMaster are a perfect example. The ability to accurately calculate prices will represent a powerful tool when combatting the high cost of diesel.
Coping with High Diesel Prices
There are nonetheless a handful of additional steps which boat owners can take. While work order management is important for dealers, pragmatism is relevant for the owners themselves. Here are some interesting strategies that boaters are likely to embrace:
- Taking excursions closer to home.
- Pooling journeys with other boaters.
- Shopping around for lower prices (although this option may be somewhat limited).
- Properly maintaining boat engines.
Unfortunately, some owners might instead choose to remain docked in their slip until diesel prices begin to recede. The only issue here is that even the experts are not certain when this may occur.
Bespoke Solutions for Challenging Times
While high diesel prices are causing many owners to feel the pinch, what goes up will come back down. The good news is that DockMaster always strives to remain one step ahead of the curve. Please feel free to contact us to learn more about how we can help.
About DockMaster Inc.
DockMaster is an industry-leading marine management system for marinas, boatyards, and boat dealerships. Visual Marina™ management includes storage & billing, occupancy tracking, reservations, and dry stack management, including integrations to leading consumer applications for boat rentals, online reservations, concierge/launch scheduling, and our new fuel integration with FuelCloud. To request a free demo, click here.