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Rail News: Intermodal
3/29/2005
Rail News: Intermodal
CSXI increases fuel surcharge for second-straight month
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On Monday, CSX Intermodal will implement its April fuel surcharge, which will rise two percentage points to 13.5 percent compared with the March surcharge — the second-consecutive monthly increase.
CSXI’s surcharge went up 1.5 percentage points in March after holding steady at 10 percent in December, January and February. The company previously applied surcharges of 11.5 percent and 13 percent in November and October 2004, respectively.
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, March 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 March 28, the DOE reported a diesel retail price of $2.25 per gallon.
If the U.S. National Average Fuel Index equals or exceeds $2.79 per gallon, the fuel surcharge will increase 0.5 percent for every four-cent increase in fuel price.
The 13.5 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 April will be 17 percent.
CSXI’s surcharge went up 1.5 percentage points in March after holding steady at 10 percent in December, January and February. The company previously applied surcharges of 11.5 percent and 13 percent in November and October 2004, respectively.
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, March 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 March 28, the DOE reported a diesel retail price of $2.25 per gallon.
If the U.S. National Average Fuel Index equals or exceeds $2.79 per gallon, the fuel surcharge will increase 0.5 percent for every four-cent increase in fuel price.
The 13.5 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 April will be 17 percent.
