Fuel Surcharge TruckingResults published today by the Canadian General Freight Index (CGFI) indicate that the cost of ground transportation for Canadian Shippers remained essentially the same in February when compared to January, while Fuel Surcharges assessed by carriers rose significantly during the same period.
The CGFI Total Freight Cost Index decreased by a nominal .1% in February when compared to January, while the Base Rate Index, which excludes the impact of Fuel Surcharges assessed by carriers, decreased 1.1% during the same period. The CGFI is still 2.3% above the April low point and 1.9% above last year’s result for the same period.
In February, Fuel Surcharges reached their highest point in over 2 years and averaged 17.4% of Base Rates, compared with 16.4% in January. “In February overall freight costs remained flat after successive months of decline,” commented Doug Payne, President & COO Nulogx. “The reduction in Base Rates was offset by increases in Fuel Surcharges, and with rising fuel prices we expect Total Freight Costs to increase in the near future,” continued Payne.
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