Fuel and oil is a major expense in our industry and these costs have been widely fluctuating in the past few years. We have been reluctant to increase our per service prices. However we feel there is no choice but to initiate an adjustable fuel surcharge for these unpredictable expenses.
The adjustable fuel surcharge will be tied directly to the national monthly average price of fuel in the Midwest as reported by the Energy Information Administration of the U.S. Department of Energy (EIA/DOE). This index is recognized nationally in the trucking industry. You may view the EIA website by clicking here.
The percentage used will be calculated the first day of each month based on the previous month’s average. See the table to the right for the surcharge percentage in relation to the fuel price per gallon*. For example, the monthly average in the Midwest for January, 2008, was $328.9 per 100 gallons, which equates to a 6.00% Fuel Surcharge. *(The monthly EIA rate is in per hundred gallons. Divide this by 100 to get $ per each gallon.)