Sheet 1: Calculator

	
	
	
	
	
	

		
Calculator V2 - July 2022
		


		


		


		


	
	

		
NOTE THIS WORKSHEET IS UNCONTROLLED AND SHOULD NOT BE RELIED UPON SOLEY FOR RISE AND FALL CALCULATIONS
		


		


		


		


	
	

		
Fill in the cells highlighted
		


		


		


		


	
	

		
The relevant statistics used for calculation of price adjustment of Bitumen Products rates shall be drawn from the VicRoads Publication “Rise and Fall Indices LABOUR, CONSTRUCTION & AVERAGE BITUMEN PRICE” available at https://webapps.vicroads.vic.gov.au/VRNE/tenconin.nsf/webFreeForms/
		


		


		
Red is a negative variation

Blue is a positive variation
		


	
	

		
https://webapps.vicroads.vic.gov.au/VRNE/tenconin.nsf/webFreeForms/
		


		


		


		


	
	

		
(Vicroads website figures are GST excluding)
		


		


		
Value in $ 
Increase / Decrease per litre
		


	
	

		
Pn Is the new scheduled bitumen price, expressed as dollars per litre, calculated by applying the formula set out below.
		


		
$2.59
		
$0.24
		
C7 figures are rounded to 2 decimal places and include GST
	
	

		


		


		


		


		


	
	

		
Pb This is the base scheduled bitumen price, expressed as dollars per litre, accepted by the Principal in the initial contract rate or sum in the Schedule of Rates or Bill of Quantities.
		


		
$2.35
		


		


	
	

		


		


		


		


		


	
	

		
Mn Is the applicable New Monthly Average Bitumen Price. This will be the value for the month during which sealing operations commenced, or the date sealing operations were scheduled to commence in the approved programme of works. It is expressed in dollars per tonne.
		


		
$1,510.00
		


		


	
	

		


		


		


		


		


	
	

		
Mb Is the monthly Base Average Bitumen Price for the month during which the Tender Close Date  Contract award date falls, for this Contract, expressed in dollars per tonne.
		


		
$1,296.67
		


		


	
	

		


		


		


		


		


	
	

		
Calculation for new rates based on rise and fall - Pn = ROUND(Pb + (( (Mn/970) - (Mb/970) )*1.1),2)