The federal government shutdown brought an announcement that the Department of Energy was suspending the national fuel index as of October 11. The diesel fuel index is used by a large number of trucking companies to generate their fuel invoices.
"The lack of the DOE index is a major problem because many of these carriers have contractual agreements with their clients requiring them to use the index to determine fuel costs," says Craig Dickman, BreakthroughFuel chief executive officer and chief innovation officer. "Without it, they can't bill for their services, which will hurt many companies that may not have the cash reserves to wait for payment. Our goal is to help them continue to operate."
BreakthroughFuel will provide carriers and shippers with a national retail diesel fuel cost average in lieu of the DOE's national fuel index. BreakthroughFuel's national retail diesel fuel index can be found at http://www.learnmore-breakthroughfuel.com/average-weekly-diesel-fuel-prices and will be published every Monday at 5 pm EST.
BreakthroughFuel's national retail average is generated using fuel prices from thousands of locations throughout the country. The DOE uses 400 locations nationwide to develop its index. "We've tracked our index against the DOE for many years and it's accurate," Dickman says. "Hopefully, the carriers' clients will understand the situation and work to allow trucking companies to use our index."
Since 2004, BreakthroughFuel has helped shippers manage more than 1.5 billion gallons of fuel, saving clients in excess of $350 million. To learn more about Breakthrough Fuel's national retail fuel index, carriers and shippers can contact BreakthroughFuel at (920) 617-3070.