Fuel for trucks and other equipment used in the supply chain is never a consistent price. Fuel surcharge fees are intended to provide an average cost of fuel, to ensure the carrier does not incur losses due to the always-changing fuel costs. Fuel surcharges were initially established because agreements to ship materials is a contractual agreement between the shipper and the carrier.
In most cases, the contract is an annual or long-term contract. The problem is since fuel prices can and always change based on multiple uncontrollable elements, a fuel surcharge is needed to protect the carrier against loss in case fuel prices rise during the terms of the contract.
However, there are a few general criteria for calculating fuel surcharges that most professional carriers follow. To begin with, all fuel surcharges are typically calculated as a percentage of the base fuel rate and are dependent on three variables:. The base fuel rate is a price that determines when the fuel surcharge will be activated. This variable factors in the fuel economy or miles per gallon that the truck averages.
Most wheel trucks with a full load average of about 6. This is the only area of a fuel surcharge that is regulated. The US Department of Energy determines the interval and source of the current average fuel price. They are published on a weekly basis. Here is a real-world example of how a fuel surcharge is typically calculated. However, EIA does not calculate, assess, or regulate diesel fuel surcharges.
EIA cannot tell transportation companies and freight carriers how to calculate a fuel surcharge. Every company has its own method for calculating fuel surcharges. Many major transportation companies have information about how they calculate surcharges on their websites. EIA does not endorse or recommend any method for calculating fuel surcharges.
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