You'll need to know your average fuel consumption, the fuel price at an imaginary time in the past when you were reasonably satisfied with the rates and the spread of rates you were charging at the time - lowest rate and target rate.
This only takes account of fuel cost increases, nothing else. It works out what your per mile fuel costs were based on any given price and adjusts them to take account of the current fuel price. It assumes that you're running at 50% utilisation - that you return empty from every job. If you do a lot of backloads and co-loads then your fuel is a lower proportion of your turnover and your increase needn't be as high.
It's also worth noting that everyone's cutting back and tightening their belts at the moment - it might possibly not be too wise to pass the full price increase on to your customers if you can afford to lose a couple of pence per mile profit. Remember that your profit is somebody else's loss.
Base Fuel Price (PENCE per litre) - the fuel cost at some imaginary time in the past when the rates were about right.
Base Mileage Rate Low (pence per loaded mile) - the lowest rate you would have run at when fuel prices were at the level above.
Base Mileage Rate High (pence per loaded mile) - the rate you wanted to charge, or your standard rate at the time.
Miles Per Gallon
Current Fuel Price (PENCE per litre)
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