FUEL COST MONITORING
Fuel prices can be highly changeable in a short timeframe and it is beyond our control so each month Bulk Lines monitors the changes in fuel prices and adjusts our Fuel Adjustment Factor (FAF) accordingly using the calculation below.
Fuel adjustment factor (FAF)
The Fuel Adjustment Factor or FAF is a surcharge added to your transport rates,
it changes monthly.
Current: May 2021 FAF 3.74%
Previous: April 2021 FAF 2.58%
FAF Rate Calculation = ( B - A ) / A * 100 * 22%
A = base rate of diesel fuel included in calculated schedule of rates.
B = end of month rate of diesel fuel (increase or decrease).
22% = Bulk Lines 2017 diesel cost basket component of total costs.
Note: There will be no FAF change where fuel has moved < or = 5cpl
FAF Rate Calculation = 0.99%
End of month prior diesel price = $ 1.2990
Original diesel price on the week of 02 December 2016 = $ 1.2433
Bulk Lines 2017 diesel cost basket component of total costs = 22%
This is based on the Diesel Main Port Price in dollars per litre weekly data published by the Ministry of Business, Innovation & Employment. To read more click the button below.