270-22 - MA 2016 FUEL PRICE ADJUSTMENT.pdf

TOWNSHIP OF WEST ORANGE 25 Lakeside Avenue, West Orange, New Jersey 07052 DEPARTMENT OF PUBLIC WORKS Engineering Division ROBERT PARISI MAYOR LEONARD R. LEPORE Tel: (973) 325-4160 Municipal Engineer Director of Public Works Fax: (973) 669-9588 Email: Engineering@westorange.org MA 2016‐ FUEL PRICE ADJUSTMENT CALCULATION Fuel Price Index: BF = $2.98 – BID OPENING IN JUNE 20, 2018, (MAY 2018 PRICE) MF = $3.07– PRICE DURING MILLING & PAVING OPERATIONS (MAY 2019) HMA 9.5M64, SURFACE COURSE= 755.86 TON * 2.5 GAL/TON = 1889.65 GAL HMA 19M64, BASE COURSE = 0 TON * 2.5 GAL/TON = 0.00 GAL HMA MILLING, 3” OR LESS = 5400 SY * 0.25 GAL/SY = 1350.00 GAL 3239.65 GAL EQUATION USED: F = (MF ‐BF) x G WHERE: F= FUEL PRICE ADJUSTMENT (FPA) MF= MONTHLY FPA BF = BASIC FPA G= GALLONS OF FUEL FOR PRICE ADJUSTMENT F = (MF‐BF) x G F= ($3.07‐$2.98) x (3,239.65 GAL) = $291.57 TOTAL FUEL PRICE ADJUSTMENT = $291.57