Rates

The following suggested rates are effective as of January 1, 2022

Rates are subject to change. They are suggested minimums for machines working in light to medium conditions. Higher rates will be charged for difficult or extreme conditions or when machines are equipped with specialized attachments. The rental rates do not include transportation. These rates are a guide with the underlying premise that the owner/operator is in business to provide the best possible service and production, while making a reasonable profit.

For a downloadable PDF version of suggested rates please click here

Suggested Fuel Surcharge

There have been many discussions regarding rising fuel prices and we value your input. Thank you to the Rate Committee Members who met and discussed this in person as well as all the feedback provided for their meeting. The IEOA Rate Committee has proposed to use a temporary fuel surcharge to counter the rising and fluctuating fuel costs. The IEOA Suggested Equipment Rates from Jan 1, 2022 included a provision for fuel costs up to $1.70/litre. The formula recommended to calculate the surcharge is: 2.5% surcharge for each $0.10 over $1.70/litre.

March Suggested Fuel Surcharge

For March 1-18th 2022 the average Shell rack rate for fuel cost was $1.93
Therefore the surcharge would be: $1.93 - $1.70 = $0.23 divided by $0.10 resulting in 2.3 x 2.5% = 5.75% surcharge for March.

April Suggested Fuel Surcharge

For March 1-31st 2022 the average Shell rack rate for fuel cost was $1.96
Therefore the surcharge would be: $1.96 - $1.70 = $0.26 divided by $0.10 resulting in 2.6 x 2.5% = 6.5% surcharge for April.

May Suggested Fuel Surcharge

For April 1-29th 2022 the average Shell rack rate for fuel cost was $1.95
Therefore the surcharge would be: $1.95 - $1.70 = $0.25 divided by $0.10 resulting in 2.5 x 2.5% = 6.25% surcharge for May.

June Suggested Fuel Surcharge

For May 1-31st 2022 the average Shell rack rate for fuel cost was $2.12
Therefore the surcharge would be: $2.12 - $1.70 = $0.42 divided by $0.10 resulting in 4.2 x 2.5% = 10.5% surcharge for June.

July Suggested Fuel Surcharge

For June 1-30th 2022 the average Shell rack rate for fuel cost was $2.35
Therefore the surcharge would be: $2.35 - $1.70 = $0.65 divided by $0.10 resulting in 6.5 x 2.5% = 16.25% surcharge for July.

August Suggested Fuel Surcharge

For July 1-31st 2022 the average Shell rack rate for fuel cost was $1.93
Therefore the surcharge would be: $1.93 - $1.70 = $0.23 divided by $0.10 resulting in 2.3 x 2.5% = 5.75% surcharge for August.

September Suggested Fuel Surcharge

For August 1-31st 2022 the average Shell rack rate for fuel cost was $1.86
Therefore the surcharge would be: $1.86 - $1.70 = $0.16 divided by $0.10 resulting in 1.6 x 2.5% = 4 % surcharge for September.

October Suggested Fuel Surcharge

For September 1-30th 2022 the average Shell rack rate for fuel cost was $1.91
Therefore the surcharge would be: $1.91 - $1.70 = $0.21 divided by $0.10 resulting in 2.1 x 2.5% = 5.25% surcharge for October.

November Suggested Fuel Surcharge

For October 1-31st 2022 the average Shell rack rate for fuel cost was $2.19
Therefore the surcharge would be: $2.19 - $1.70 = $0.49 divided by $0.10 resulting in 4.9 x 2.5% = 12.25% surcharge for November.

December Suggested Fuel Surcharge

For November 1-30th 2022 the average Shell rack rate for fuel cost was $2.07
Therefore the surcharge would be: $2.07 - $1.70 = $0.37 divided by $0.10 resulting in 3.7 x 2.5% = 9.25% surcharge for December.

Fuel rates will be reviewed monthly by the IEOA and fuel surcharges adjusted as needed based on the average rack rate for the previous month.
As always these are suggestions and it's up to you how you make them work for your business.