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After steadily increasing the past eight months, CSX Intermodal's monthly fuel surcharge is about to drop. On Monday, the company will implement its July surcharge of 5.5 percent, a 0.4 percent decline compared with June's surcharge.

CSXI previously applied fuel surcharges of 5.6 percent, 4.9 percent, 4.5 percent, 4.5 percent and 3.7 percent in May, April, March, February and January, respectively. The last time the company's surcharge decreased from month to month was in October, when CSXI's 3 percent surcharge fell 0.7 percent compared with September.

CSXI adjusts its monthly 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, June 28) 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 June 28, DOE reported a diesel retail price of $1.70 per gallon.

The 5.5 percent surcharge applies to CSXI's ramp-to-ramp, ramp-to-door, door-to-ramp and door-to-door rates. The drayage-only fuel surcharge for July will be 9 percent.