Due to high fuel and increased costs for many of the petroleum-based products we use in our daily operations (tires, asphalt, etc.) you many now need to now implement a fuel surcharge.
Calculating a Fuel Surcharge
The fuel surcharge calculation is tied directly to the national average price of diesel fuel as reported weekly by the Energy Information Administration of the U.S. Department of Energy (“EIA/DOE”) in its Weekly Retail On-Highway Diesel Prices Index. This index is objective, publicly available and widely recognized in the trucking and transportation industries. This change will ensure that you charge your customer a fuel surcharge that is currently adjusted, easy to calculate, and equitable to you and the Company.
VIEW the EIA/DOE Weekly Diesel Prices.
When calculating a fuel surcharge you can update your fuel surcharge monthly, base the amount on the corresponding diesel fuel price per gallon the last week of the preceding month according to EIA/DOE prices. For example, if the diesel fuel price per gallon was $2.75 the last week of the preceding month, then the fuel component of the charge would be 8.75 percent of your total invoice amount, excluding taxes. The corresponding fuel surcharge amounts relating to specific diesel fuel prices.
Mark Boyer – Editor
Paver Market Magazine