Fleet card provider WEX plans to release an app that tells motorists where the most cost-effective gas station is based on their location rather than just showing the price of gas.
The next-generation app will look at the motorist's location and the amount of fuel that must be spent to get to each nearby gas station, said Jim Pratt, general manager of virtual payments, at SourceMedia's 2014 Card Forum and Expo last week. "What's the best price for you today might not be the cheapest price," he said.
If a closer but more expensive gas station will save the motorist money by requiring less gas to reach, the WEX app will recommend the closer station, he said.
The current version of its app, called WEX Connect, provides motorists with real-time pricing data based on WEX card users' actual fuel purchases. The data is collected automatically, he said.
The app has found some unintended uses, such as aiding disaster recovery efforts. After Hurricane Sandy, WEX's app was able to show emergency crews where power had been restored and where it was still out, based on which gas stations were selling fuel, Pratt said.
