Fuel Wise offers education services to all stakeholders in the supply chain to assist in understanding the purpose of a fuel surcharge program, best practices for fuel surcharge utilization, and how to implement an effective fuel surcharge program.
To enquire about our education services and how we can assist your organization, please follow the link below:
Our Subscription services provide you with weekly updates containing the average price of diesel in your selected market region as reported by Statistics Canada and the US Energy Administration.
In addition to diesel price statistics, we will provide you with a suggested fuel surcharge for LTL <10,000 lbs, FTL >10,000 lbs, and HTL >55,000 lbs, based on our published formulas.
For many organizations, communicating with their partners about how fuel surcharges work, how the formulas are calculated, and answering a myriad of questions is both time consuming and cumbersome.
Fuel Wise is pleased to partner with stakeholders in the supply chain to communicate best practices and industry implementation standards to their industry partners.
Fuel Surcharges Then
Widely accepted during the 1990 Gulf War, Fuel Surcharges were seen as a measure that would enable trucking companies to recover the sudden spike in fuel prices without having to increase rates.
Shippers saw the fuel surcharge as a more fair way of recovering what was then viewed as a temporary increase in cost, while providing a mechanism to normalize shipping costs when the price of diesel went back down.
Today shippers can realize immediate cost relief to their shipping spend when diesel prices drop as we saw in 2015, provided they have an appropriate fuel surcharge agreement in place.
Shippers who have negotiated away the control of the fuel surcharge, or have fixed or no fuel surcharges in their transportation agreements, stand to lose money and not realize the benefits of lower diesel prices.
The FuelWise Solution enables you to choose the Canadian region in which you would like your fuel surcharge to be calculated. You may choose a national average, a provincial average, or which ever region is specific to your business.
Your subscription provides you with a weekly email that will identify what the fuel surcharge for your custom region is, based on the average price of fuel for the past week.
Put every penny and dollar back in your pocket
A 3rd party fuel surcharge ensures all parties get the best of both worlds. The volatility of fuel, one of trucking's largest costs, means all parties need to be protected. Trucking companies when the price escalates, and shippers when the price falls.
The FuelWise Solution ensures all parties are protected and received the benefits originally intended when fuel surcharges first became the industry standard.
Take control of your costs and profits by benefiting from a 3rd party fuel surcharge system.
Subscribe now to receive your region specific fuel surcharge delivered to your inbox every week.