Motor Carrier Fuel Cost Equity Act of 2001

Motor Carrier Fuel Cost Equity Act of 2001 - Amends Federal transportation law to require any contract or agreement for truckload transportation or service regularly provided by a motor carrier, broker, or freight forwarder subject to the Secretary of Transportation and the Surface Transportation Board to include a requirement to assess a payer of transportation charges a minimum surcharge for fuel when the current price of fuel surpasses the $1.10 per gallon benchmark price by $0.05 per gallon. Requires the surcharge to be the amount necessary to compensate the person responsible for paying for fuel for the amount of increase in its cost.

Allows any motor carrier, broker, or freight forwarder to include in any transportation contract or agreement a privately negotiated fuel cost adjustment provision designed to compensate the person responsible for paying for fuel for the increase in its cost.

Requires any motor carrier, broker, or freight forwarder providing transportation or service using motor vehicles not owned by it and using fuel not paid for by it to pass any fuel surcharge through to the person responsible for paying for fuel. Prohibits any reduction in compensatory transportation costs (other than the fuel surcharge) to, or the imposition of a fuel cost adjustment on, the payer of fuel for the purpose of adjusting for or avoiding the pass through or the payment of the fuel surcharge.