The last six+ months of applicable FAF rates are summarised below. Note that FAF rates do not get lower than 0%. This is partly related to the historical relationship between fuel prices and exchange rates and non-fuel inflationary pressures. If fuel costs fall below base rates for a sustained period, not offset by corresponding non-fuel costs, then rates can be adjusted accordingly.
We also provide a link here to access the MBIE fuel cost data. This is the rate used in calculating FAF. The formula is partly historic, and partly looks at the gradient and momentum of change to build in an expectation level for the next four week period. If the cost of fuel dramatically rises or falls during a month we may adjust it within the period.
|From Date||To Date||FAF Rate|
|25th Mar 2020||27th Apr 2020||4.15%|
|27th Apr 2020||31st May 2020||1.75%|
|1st Jun 2020||30th Jun 2020||2.25%|
|1st Jul 2020||31st Jul 2020||2.95%|
|1st Aug 2020||31st Aug 2020||2.54%|
|1st Sep 2020||30th Sep 2020||2.14%|
|1st Oct 2020||31st Oct 2020||1.52%|
|1st Nov 2020||30th Nov 2020||1.37%|
|1st Dec 2020||0.56%|