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|
|1st Oct 2020||31st Oct 2020||1.52%|
|1st Nov 2020||30th Nov 2020||1.37%|
|1st Dec 2020||31st Dec 2020||0.56%|
|1st Jan 2021||31st Jan 2021||1.20%|
|1st Feb 2021||28th Feb 2021||4.95%|
|1st Mar 2021||31st Mar 2021||5.83%|
|1st Apr 2021||30th Apr 2021||6.33%|
|1st May 2021||31st May 2021||6.91%|
|1st Jun 2021||30th Jun 2021||7.65%|
|1st Jul 2021||8.65%|