A simple example of Markel FUELogic in actionLet’s say you operate a fleet of 21 trucks, and each truck averages 10,000 miles per month. Let’s also assume that each truck burns an average of 5 miles to the gallon. In this example, your fleet covers over 2.5 million miles and consumes over 500,000 gallons of fuel annually.
Now let’s say the national average retail price for on-highway diesel fuel is about $2.50* per gallon. If this price remained stable for the next twelve months, your fleet would spend about $1,250,000 on fuel over the year.
Problem is, fuel prices rarely remain stable for twelve days, let alone twelve months. Unless you’re protected with Markel FUELogic.
With Markel FUELogic, this 21-truck fleet would have received reimbursements totaling $189,000 in 2004 and $216,000 in 2005.
Markel FUELogic Reimbursement Summary 2004 & 2005
How much does Markel FUELogic cost? The cost of Markel FUELogic fuel price protection is set daily, according to current and forecasted fuel prices set by NYMEX trading patterns.
On March 1, 2006, the price of one 42,000-gallon, 12-month Markel FUELogic contract cost approximately $77,000.
Let’s put that cost into perspective: For our 21-truck sample fleet running 2.5 million miles per year, that’s about 3¢ per mile.
How much does it cost not to be covered? What happens if this 21-truck fleet doesn’t have Markel FUELogic protection? Well, if fuel prices rise in 2006 as they did in 2005, this non-protected fleet stands to pay over $200,000 more in fuel costs than an unprotected fleet.
* All figures in US dollars. Try our easy-to-use Markel FUELogic Calculator to see how your business may benefit under various scenarios, past, present and future.
Then call us toll-free at
1•888•MARKEL•1. We’ll send you a detailed no-obligation quote specifically tailored to your fleet’s unique needs.