Fuel Budgets

[Kyle Dixon]

Volatility in gas prices has made creating fuel budgets a tough job. It is probably one of the most difficult dollar amounts to determine when preparing the expense budget when you attempt to factor in the idle time, call volume, long distance transfers, and fuel prices.  Does anybody have any tips, tricks, or suggestions they use when budgeting dollars for fuel?

[Chuck McMahan]

If your annual budget for fuel is over $200k, you might consider purchasing diesel futures.  

As the price of diesel fluctuates, the value of the future held will move conversely with your fuel budget overruns (or under-runs).    If you budget runs over due to market price changes, the value of the future will increase, conversely if the price drops the value of the future will drop but you will be saving money at the pump.

Here is a nice tuorial

http://www.oswego.edu/~edunne/340ch9.htm

Sent from my iPad

On Jul 16, 2012, at 11:41 AM, Kyle Dixon <kdi...@co.adams.il.us> wrote:

Volatility in gas prices has made creating fuel budgets a tough job. It is probably one of the most difficult dollar amounts to determine when preparing the expense budget when you attempt to factor in the idle time, call volume, long distance transfers, and fuel prices.  Does anybody have any tips, tricks, or suggestions they use when budgeting dollars for fuel?

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[Cascio, Anthony]

Kyle,

For our current budget we utilized the number of fleet miles traveled the year prior, the average miles per gallon for the fleet, projected call volume (utilized to projected miles traveled in the upcoming year), and average cost per gallon plus $0.10.  Thus we've been on track with our budget.  I'd be happy what everyone has done.

Anthony

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On Jul 16, 2012, at 1:41 PM, "Kyle Dixon" <kdi...@co.adams.il.us> wrote:

Volatility in gas prices has made creating fuel budgets a tough job. It is probably one of the most difficult dollar amounts to determine when preparing the expense budget when you attempt to factor in the idle time, call volume, long distance transfers, and fuel prices.  Does anybody have any tips, tricks, or suggestions they use when budgeting dollars for fuel?

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