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.
Apr 2024 FAF 18.28%
Mar 2024 FAF 18.28%
Feb 2024 FAF 18.28%
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
For example:
FAF Rate Calculation = 0.99%
End of month prior diesel price = $ 1.2991
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 or national commercial list price fluctuations .To read more click the button below.