Variable Fuel Rate (VFR)

The current Variable Fuel Rate (VFR) % is listed below:

 

Month

Variable Fuel Rate

December 2017 0.00%
November 2017 0.00%
October 2017 0.00%
September 2017 -0.6%
August 2017 0.00%
July 2017 0.00%
June 2017 0.00%
May 2017 0.00%
April 2017 0.00%
March 2017 0.00%
February 2017 0.00%
January 2017 0.00%
December 2016 0.00%
November 2016 -0.30%
October 2016 -0.60%
September 2016 -0.60%
August 2016 0.00%
July 2016 -0.30%
June 2016 -1.10%
May 2016 -1.20%
April 2016 -2.10%
March 2016 -2.00%
February 2016 -0.80%
January 2016 -0.10%
December 2015 0.00%
November 2015 0.00%
October 2015 0.00%
September 2015 0.00%
August 2015 0.00%
July 2015 0.00%
June 2015 3.40%
May 2015 3.50%
April 2015 3.10%
March 2015 2.70%
February 2015 4.20%
January 2015 5.20%
December 2014 5.80%
November 2014 5.90%
October 2014 5.80%
September 2014 5.90%
August 2014 6.20%
July 2014 5.90%
June 2014 5.70%
May 2014 5.90%
April 2014 5.90%
March 2014 6.20%
February 2014 6.50%
January 2014 5.90%
December 2013 6.00%
November 2013 6.30%
October 2013 6.20%
September 2013 6.30%
August 2013 5.80%
July 2013 5.30%
June 2013 5.60%
May 2013 5.80%
April 2013 6.10%
March 2013 6.10%
February 2013 6.10%
January 2013 6.10%
December 2012 6.30%
November 2012 6.50%
October 2012 6.20%
September 2012 5.40%
August 2012 5.70%
July 2012 6.40%
June 2012 6.50%
May 2012 6.40%
April 2012 6.00%
March 2012 6.50%
February 2012 6.60%
January 2012 5.90%
December 2011 5.50%
November 2011 5.40%
October 2011 5.20%
September 2011 5.50%
August 2011 5.60%
July 2011 6.40%
June 2011 7.10%
May 2011 6.50%
April 2011

4.90%

March 2011

4.70%

February 2011

4.30%

January 2011

3.80%

December 2010

3.70%

 

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 $5.00 and the VFR applying for December 2010 was 3.70%, then the total price you pay would be $5.19 calculated as follows:


Total price (excl GST) = 5.00 + (5.00 x 3.70%) = $5.185 (rounded to $5.19)


In accordance with clause 7.1 of our terms and conditions, our prices may be amended by giving you 30 days notice in writing.

Further information about the way we calculate the VFR is set out below. For the current VFR see above.

 

Calculating the VFR

Index Linked 

The VFR is linked to the ‘Diesel main port price excl taxes’ as published in the Weekly Oil Price Monitoring tables, by the Ministry of Business, Innovation & Employment (“Index”). The Index is published on the Ministry’s website on the Oil Price Monitoring page.

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 the Energy Prices data table.

Two Month Lag

The VFR for a given month is calculated based on the Index from two months earlier. For example, to calculate the December VFR, we use the Index price from October. 

Baseline Diesel Price

From the 1st of July 2015, the VFR has used a Baseline Diesel (Index) Price of $1.05. For every $0.02 movement above $1.05 in the Diesel main port price including taxes for a given month, VFR will increase by 0.1% as per the table below. 

No VFR will apply in the relevant month if the average diesel price, including taxes is $1.05 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 Diesel Main Port Price (incl diesel taxes, excl GST) greater than:

Average monthly Diesel Main Port Price (incl diesel taxes, excl GST) less than or equal to:

  VFR

1.04

1.05

0.00%

1.05

1.06

0.00%

1.06

 1.07 0.10%

1.07

 1.08 0.10%

1.08

1.09

0.20%

1.09

1.10

0.20%

1.10

1.11

0.30%

1.11

1.12

0.30%

1.12

1.13

0.40%

1.13

1.14

0.40%

1.14

1.15

0.50%

1.15

1.16

0.50%

1.16

1.17

0.60%

1.17

1.18

0.60%

1.18

1.19

0.70%

1.19 1.20

0.70%

1.20

1.21

0.80%

1.21

1.22

0.80%

1.22

1.23

0.90%

1.23

1.24

0.90%

1.24

1.25 1.00%

1.25

1.26

1.00%

1.26

1.27

1.10%

1.27

1.28

1.10%

1.28

1.29

1.20%

1.29 1.30 1.20%

...

...

 

1.42

1.43

1.90%

1.43

1.44

1.90%

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 $1.41 a litre.