ECL Transport - Variable Fuel Rate

Please note: If you are a CourierPost or Pace customer, please click here for information on the Variable Fuel Rate pertinent to you.

July 2017 VFR is 4.50%

Why is the Variable Fuel Rate (VFR) different for Express Couriers Limited Transport?

The percentage of costs relating to fuel is much greater for large transport vehicles (trucks) than for vans, which is the primary reason the VFR for ECL Transport will almost always be a different value than the VFR quoted for CourierPost / Pace.

In addition, a 1 August 2007 base point applies to the ECL Transport VFR calculation due to the other rate adjustments that were made prior to this date.

 

Past Variable Fuel Rates:

June 2017 4.95%
May 2017 4.95%
April 2017 5.40%
March 2017 5.40%
February 2017 4.28%
January 2017 2.48%
December 2016 3.38%
November 2016 2.03%
October 2016 1.13%
September 2016 1.35%
August 2016 2.93%
July 2016 2.03%
June 2016 0.23%
May 2016 0.00%
April 2016 -2.03%
March 2016 -1.80%
February 2016 0.68%
January 2016 2.48%
December 2015 2.93%
November 2015 3.38%
October 2015 3.15%
September 2015 4.50%
August 2015 4.95%
July 2015 4.73%
June 2015 4.05%
May 2015 2.70%
April 2015 2.03%
March 2015 1.13%
February 2015 4.50%
January 2015 6.75%
December 2014 8.10%
November 2014 8.33%
October 2014 8.10%
September 2014 8.33%
August 2014 8.78%
July 2014 8.33%
June 2014 7.88%
May 2014 8.33%
April 2014 8.33%
March 2014 9.00%
February 2014 9.68%
January 2014 8.33%
December 2013 8.33%
November 2013 9.23%
October 2013 9.00%
September 2013 9.23%
August 2013 8.10%
July 2013 6.98%
June 2013 7.65%
May 2013 8.78%
April 2013 8.78%
March 2013 8.78%
February 2013 8.78%
January 2013 8.78%
December 2012 9.23%
November 2012 9.45%
October 2012 9.00%
September 2012 7.20%
August 2012 7.88%
July 2012 9.45%
June 2012 9.45%
May 2012 9.23%
April 2012 8.55%
March 2012 9.68%
February 2012 9.90%
January 2012 8.33%
December 2011 7.43%
November 2011 6.98%
October 2011 6.75%
September 2011 7.43%
August 2011 7.65%
July 2011 9.45%
June 2011 11.03%
May 2011 9.45%
April 2011 5.85%
March 2011 5.63%
February 2011 4.73%
January 2011 3.60%
December 2010 3.38%
November 2010 2.93%
October 2010 2.93%
September 2010 2.93%
August 2010 2.48%
July 2010 3.38%
June 2010 2.93%
May 2010 2.03%
Āpril 2010 1.35%
March 2010 1.13%
February 2010 0.68%
January 2010 0.68%
December 2009 0.0%
November 2009 0.23%
October 2009 0.45%
September 2009 0.23%
August 2009 0.45%
July 2009 0.00%
June 2009 0.00%
May 2009 0.00%
April 2009 0.00%
March 2009 0.23%
February 2009 2.48%
January 2009 4.05%
December 2008 7.65%
November 2008 11.25%
October 2008 13.95%
September 2008 16.88%
August 2008 15.30%
July 2008 11.70%
June 2008 8.10%
May 2008 5.63%
April 2008 4.05%
March 2008 4.73%
February 2008 4.275
January 2007 3.60%
December 2007 2.03%

Pricing

The total price you pay for a product or service is made up of two components:

  • a Base Price; and
  • a Variable Price.

In order to calculate the total price you pay, we add these two components together, round the total to the nearest cent and then add GST.

Our Base Price component is the price for our products and services set out in our contract with you.

Our Variable Price component is calculated as a percentage of the applicable Base Price. The percentage which we apply to the applicable Base Price is called the Variable Fuel Rate (VFR). The VFR changes from month to month because it is linked to the changing cost of diesel. We use the VFR that applies on the date you order your product or service.

You can calculate the total price you pay according to the following formula:

Base Price + (Base Price x VFR) = Total Price (excl GST)

For example, if the base price of your product or service was $500.00 and the VFR applying for November 2007 was 2.25%, then the total price you pay would be $511.25 calculated as follows:

Total price (excl GST) = 500.00 + (500.00 x 2.25%) = $511.25 (rounded to $511.25)

Calculating the VFR

Index Linked

The VFR is linked to the diesel price set out in the Petrol and Diesel Retail Price Graph Data tables published by the Ministry of Economic Development (“Index”). The Index is published on the Ministry’s website at the Oil Price Monitoring page, and shows the average weekly diesel price in New Zealand.

Diesel Taxes

The prices shown in the Index exclude diesel taxes, duties and levies. For the purposes of calculating the VFR we add these diesel taxes, duties and levies to the average weekly diesel prices in the Index. To find out the current amount of these diesel taxes see Duties, Taxes and Direct Levies on Motor Fuels in NZ.

Average Monthly Diesel Price

For the purposes of calculating the VFR we use the weekly figures which are published in the Index to calculate the average diesel price including taxes, duties and levies for each calendar month.

Two Month Lag

We calculate the VFR for any given month using the average diesel prices from two months earlier. For example, to calculate the November 2007 VFR we will use the average diesel price from September 2007.

Baseline Diesel Price

We have used a baseline average diesel price of 92.25 cents per litre. No VFR will apply in the relevant month (see above) if the average diesel price including taxes, duties and levies is less than 92.25 cents per litre in that month.

VFR Table

The VFR alters from month to month according to the average monthly diesel price as shown in the table below.

Average Monthly NZ Diesel Retail Price per litre (incl diesel taxes, excl GST) greater than: Average Monthly NZ Diesel Retail Price per litre (incl diesel taxes, excl GST) less than or equal to: VFR
0.0000 0.9225 0.00%
0.9225 0.9325 0.23%
0.9325 0.9425 0.45%
0.9425 0.9525 0.68%
0.9525 0.9625 0.90%
0.9625 0.9725 1.13%
0.9725 0.9825 1.35%
0.9825 0.9925 1.58%
0.9925 1.0025 1.80%
1.0025 1.0125 2.03%
1.0125 1.0225 2.25%
1.0225 1.0325 2.48%
1.0325 1.0425 2.70%
1.0425 1.0525 2.93%
1.0525 1.0625 3.15%
1.0625 1.0725 3.38%
1.0725 1.0825 3.60%
1.0825 1.0925 3.83%
1.0925 1.1025 4.05%
1.1025 1.1125 4.28%
1.1125 1.1225 4.50%
1.1225 1.1325 4.73%
1.1325 1.1425 4.95%

The VFR will be calculated in the same manner as set out in the table above where the average diesel price (incl diesel taxes, excl GST) is more than $1.1425 a litre.