Today’s volatile diesel prices make it difficult for carriers to mitigate high fuel expenditures using the traditional method of negotiating fuel surcharges based on the Department of Energy’s nationwide average price, which the department estimates once a week by surveying a limited number of fueling locations. For example, when fuel prices are on the rise, a fuel surcharge based on Monday’s DOE national average often may be several cents below Wednesday’s actual pump price and may bear no relation to the actual prices paid along particular freight lanes.
Powered by ProMiles, a routing and fuel management provider, FuelSurchargeIndex.org is designed to offer users average retail fuel prices along a specific route updated to within the last 24 hours. Shippers, fleets, owner-operators and brokers now can access the same point-to-point fuel price information, according to the company.
“With this type of data transparency, everyone impacted by volatile fuel prices can better understand the actual retail price of fuel along any route in the U.S.,” says Tony Stroncheck, chairman, chief executive officer and president of sales and marketing for ProMiles, based in Bridge City, Texas. “This product fills a need in the market for more timely access to fuel pricing information.”
While users can calculate the fuel price along a specific lane free of charge, premium services also are available on a subscription basis at varying levels. Premium services include the ability to calculate a fuel surcharge based on a specific trigger point, mpg and routing method. A fuel surcharge contract template, applicable in most if not all jurisdictions, also is available. Subscribers also can see truck stops along the route, access historical fuel price data, view state breakdowns, export data and access a direct interface to third-party applications.
To access the current retail price average index or to sign up for a free 25-transaction trial of the full service, go to www.fuelsurchargeindex.org or call ProMiles at 800-324-8588 for more information.