Fuel Escalator Monthly Update – March 2022

As you will be aware from all media channels and visibility across UK forecourts, the cost of fuel has been increasing over the past 6 months. The market price of fuel is obviously beyond our control and represents a significant variable and volatile cost to be managed.

After careful consideration, we have decided to introduce a Fuel Escalator. A Fuel Escalator is the most transparent method of dealing with fluctuating fuel prices, as the surcharge both increases and decreases in line with the actual fuel prices paid. We will be using the monthly Fuel Price Report from the RHA as the basis of the surcharge scale, and will update this here on a monthly basis.

The base rate for our fuel escalator is 111.7 pence per litre (ppl), taken from the RHA’s December 2021 Average Bulk Diesel Pricing.

The applicable rate for March’s invoicing will be February’s average price of 119.48 ppl and therefore represents a 6.97% increase. The increase is only applicable to the fuel element of your rate, which is equal to 35%, and therefore a 2.43% increase to your rate will apply for any invoicing issued in March.