Why you should factor in $3 per litre in fuel.

Fuel prices, where do we start? Filling your car up is now costing 40-50% more than it did a month ago. For the everyday consumer this may mean an extra $20-$50 a week, but for business it’s a lot more  – for not only running your own vehicles and machinery but also price increases from suppliers. It’s not just fuel that will rise – inflation will see prices rise for everything from your daily coffee to your rent.

Which leads us to ask - Have you factored these increases into your budget and whether you need to consider passing on some or all the price rises? Uber has already started to do this with a fuel surcharge.

With modelling suggesting fuel prices may increase to $3 per litre before too long, the time is right to look at how the increase in costs will affect your margins & profitability.

It goes without saying, inflation will impact certain industries more than others, however you need to think about your supply chain and any indirect price rises you may encounter.

We are able and more than happy to assist you with reviewing your margins and the direct & indirect impacts of increase in fuel prices on your profits – just let us know.

If you require any further information please get in touch with us.