The U.S. Government shutdown has resulted in the U.S. Department of Energy's announcement that it will no longer supply a national fuel index as of Friday, Oct. 11.
The D.O.E. diesel fuel index is used by a large number of trucking companies to generate their fuel invoices. "The lack of D.O.E. index is a major problem because many of these carriers have contractual agreements with their clients requiring them to use the D.O.E.'s index to determine fuel costs," said Breakthrough Fuel CEO and Chief Innovation Officer Craig Dickman. "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."
In an effort to fill the marketplace void, BreakthroughFuel will provide carriers and shippers with a national retail diesel fuel cost average in lieu of the D.O.E.'s national fuel index. Breakthrough Fuel's national retail diesel fuel index 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 D.O.E. uses 400 locations nationwide to develop its index. "We've tracked our index against the D.O.E. for many years and it's accurate," Dickman said. "Hopefully, the carriers' clients will understand the situation and work to allow trucking companies to use our index."
To learn more about Breakthrough Fuel's national retail fuel index, carriers and shippers can contact Breakthrough®Fuel at (920) 617-3070.
