Cost per Hour of a Pickup Truck. In this article we will complete the calculation of the hourly cost of the Ford F150 truck from the previous post.
In following figure we highlight the Fixed costs already calculated in the previous post.
Here we are going to calculate the costs per consumption and the costs per operation in order to arrive at the total cost per hour of the F150 pickup truck.
Cost per Hour of a Pickup Truck – Consumption Costs
Hourly fuel and lubricant cost
- The truck works 2000 hours per year.
- Pickup fuel consumption is 8.5 liters/hour.
- Value of a liter of fuel is USD 1.
Regardless of the above, we review below which are the main factors that affect fuel consumption
- The driving style
- Acceleration of the vehicle
- Driving speed.
- Age of the vehicle
- The operating condition of the vehicle.
- Ambient temperature
- The wind and its direction.
- Depending on whether it is driven in the city or on the highway.
- The engine revolutions
- Load carried by the vehicle.
- Type and quality of fuel.
- Road conditions.
- The use of the vehicle’s air conditioning, etc.
Usually, each company records the fuel consumption of each machine, for example, for one month, and then divides that consumption into the monthly working time of the machinery, thus getting the hourly fuel consumption of the equipment.
For the pickup vehicle, the cost of lubricant consumption is taken as equal to 7% of the hourly cost of fuel.
The correct method for finding out the hourly consumption of oil in a machine is to record the consumption of all lubricants, i.e. engine oil, hydraulic oil, and transmission oil, for changes and refills at the end of each month, and then divide each data into the monthly working time of the machinery.
It is common to associate lubricant consumption with fuel consumption in the same period and to express lubricant consumption as a percentage of the hourly cost of fuel.
In this example, we consider that the truck’s tires have a very low service life of only one year because the vehicle drives on bad roads.
We take the cost of the 4 pickup truck’s tires per year to be:
P4 = $1,000
In general, tire rolling resistance accounts for approximately 15% of total fuel consumption.
When faced with tires that are similar in terms of grip and ride comfort, it makes sense to use tires that have lower rolling resistance because they provide better fuel economy.
In any tire, lower tire pressure means more rolling resistance and higher fuel consumption
The following table summarizes the cost per hourly consumption of the Ford F150 4×4 of our example.
Cost per Hour of a Pickup Truck – Operating Cost
Cost per hour of the operator
The cost of the worker’s hourly wage, plus social security contributions multiplied by the percentage affected, is equal to the hourly cost of the worker.
The remuneration and social charges of the operators vary widely depending on the country or region where the work is performed.
In this example, we will take a remuneration of USD 10 and social charges of 65%.
Therefore, the sum of the operator’s remuneration and social charges is USD 16.50 per hour.
Cost for surveillance
The cost per hour for surveillance is taken equal to 10% of the labor cost.
Therefore, the cost per surveillance is:
16.50*10% = 1.65 USD
The surveillance cost applies especially for high-value machines.
Summary of Total Hourly Cost
The total hourly cost of the Ford F150 4×4 6-cylinder pickup truck in the example is:
- Fixed hourly cost = USD 5.45 from previous post.
- Hourly consumption cost = USD 9.60
- Labor cost per hour = USD 16.50
- Surveillance labor costs = USD 1.65
Total Hourly Cost = 5.45 + 9.60 + 16.50 + 1.65 = USD 33.20
In the next post, we will analyze what are the financial costs in a construction work.