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CSX Intermodal is starting the new year with a lower fuel surcharge — at least in comparison to December's. Yesterday, the company implemented a 27 percent fuel surcharge for January vs. last month's 28.5 percent surcharge.

CSXI previously applied a 24.5 percent fuel surcharge in November, 23 percent surcharge in October and 21 percent surcharge in September. The drayage-only fuel surcharge for January is 34 percent.

CSXI adjusts its surcharge the first Monday of each month based on the difference between the U.S. Department of Energy's (DOE) price index the previous Monday (in this case, Dec. 31) and $1.10. CSXI calculates the percent difference between the DOE's "Retail Diesel Fuel Price Index" and $1.10, multiplies the figure by 10 percent and then again by 100. On Dec. 31, the DOE reported a diesel retail price of $3.34 per gallon.

If the U.S. National Average Fuel Index equals or exceeds $2.79 per gallon, CSXI increases its fuel surcharge 0.5 percent for every four-cent increase in fuel price.

Meanwhile, Union Pacific Railroad's carload rate-based fuel surcharge will exceed 20 percent in January and February. The Class I will implement a 21.5 percent surcharge this month and 21 percent surcharge next month.

The railroad's fuel surcharges previously stood at 18.5 percent in December and 17.5 percent in November. UP's rate-based standard Highway Diesel Fuel surcharge program is based on the DOE's U.S. average on-highway diesel fuel price.