Special Transporter E-News-Fuel Surcharge Guidance, Issue 39, 16/03/2022

Further to my message on Friday 11 March in our Transporter E-News, and due to the amount of calls of concern we are receiving from members, we are providing you with further information in relation to applying a fuel surcharge. One of our key purposes is to ensure that you are able to operate your business in an efficient, productive and viable way, and we do our very best to do that with practical solutions and timely support. 

Applying an additional percentage to your fuel levy in this current climate is not attempting to improve profit margins, but to recover the actual extra cost of fuel. In normal trading conditions, we understand businesses have a practice of reviewing the fuel levy on a monthly/quarterly basis, however, it is recommended that in the current climate that a weekly review be done to ensure you are passing on these additional fuel costs.

Importantly, you need to take quick action because as you know the cost recovery for these fuel price increases will significantly impact business viabliliy. As fuel market volatility is likely to be continuing for some time, we recommend that this surcharge percentage is reviewed weekly.

We also recommend to get professional advice from an accountant that specialises in transport accounting. If you need a referal, please contact us. 

Gary

Further to my message on Friday in our Transporter E-News, and due to the amount of calls of concern we are receiving from members, we are providing you with further information in relation to applying a fuel surcharge. One of our key purposes is to ensure that you are able to operate your business in an efficient, productive and viable way, and we do our very best to do that with practical solutions and timely support. 

Applying an additional percentage to your fuel levy in this current climate is not attempting to improve profit margins, but to recover the actual extra cost of fuel. In normal trading conditions, we understand businesses have a practice of reviewing the fuel levy on a monthly/quarterly basis, however, it is recommended that in the current climate that a weekly review be done to ensure you are passing on these additional fuel costs.

Importantly, you need to take quick action because as you know the cost recovery for these fuel price increases will significantly impact business viabliliy. As fuel market volatility is likely to be continuing for some time, we recommend that this surcharge percentage is reviewed weekly.

We also recommend to get professional advice from an accountant that specialises in transport accounting. If you need a referal, please contact us. 

Gary