Results published today by the Canadian General Freight Index (CGFI) indicate that the cost of ground transportation for Canadian Shippers increased slightly in March when compared to February due to increases in Fuel Surcharges assessed by carriers.
The CGFI Total Freight Cost Index rose by .4% in March when compared to February, while the Base Rate Index, which excludes the impact of Fuel Surcharges assessed by carriers, decreased .7% during the same period. Offsetting the decrease in Base Rates was a significant increase in average Fuel Surcharges which rose from 17.4% to 18.8% of Base Rates.
Fuel surcharges increased for the 6th consecutive month, and reached their highest point in over 2 years.
“Increasing fuel prices continue to be the major factor affecting transportation costs”, commented Doug Payne, President & COO Nulogx. “While Base Rates are relatively stable to declining, increasing fuel prices are starting to have a real impact on shipping costs” continued Payne.