Last week, we discussed about the impact of fuel prices on hauliers in Singapore. Fuel prices has also been a hot topic in the parliament, and our Finance Minister Lawrence Wong said yesterday (4th April 2022) that Singapore will not make any downward adjustments or stop fuel subsidies, or provide any road tax rebates. Clearly, this is major topic across across all walks of life and every Singaporean is hard hit by this in one way or another.
At Haulio, we too believe that there is an urgency for our Haulage industry to have clarity and transparency on the additional fuel costs to be incurred for the benefit of our Hauliers and Customers alike.
Therefore, our team has came together to research and develop a tool to help all hauliers to calculate the additional fuel costs they will be incurring for a typical container haulage job to anywhere in Singapore.
You will be able to find this calculator under the “Resources” > “Additional Fuel Cost Calculator”. Or, you can go to this link directly to access our Calculator.
The calculator is designed for our Hauliers to be able to calculate the estimated additional fuel cost that they will be incurring for any typical Container Haulage Job. To use, will only need to
The following distances are calculated.
After the trucking distances are measured, we matched each of those 3 trip distances to their respective fuel consumptions.
Based on our survey and data points, we estimated the following fuel consumption rates:
These numbers are derived from surveys done with our haulier partners and measured against published efficiency numbers. They are reasonably representative of most conditions, but of course, the consumption rate of trucks vary between truck models and container weights. However, for the purpose of estimation, these numbers are sufficient.
Finally, these figures are calculated against the difference between today’s diesel rates and the 3rd January 2022 (first Monday of Year 2022). Thus, in other words, we are benchmarking the price differential against 3rd January 2022. This benchmark was chosen as it is evident that prices started to climb at the turn of the year.
The result in our calculator will show you the estimated additional fuel cost to be expected for the job details.
It is true that not all Haulier pump at the retailers listed above and the actual cost of fuel is not reflective of the retail rates. However, we have found through our research that the differential is similar across the different sources. As such, since our calculator calculates the increment costs, taking published rates from retail outlets will suffice.
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