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Rail News: Intermodal
CSX Intermodal is feeling the effects of rising fuel costs. Next month, the company’s customers will, too. On May 1, CSXI will begin implementing a monthly fuel surcharge of 21 percent, up 3.5 percentage points compared with April’s surcharge.
CSXI previously implemented surcharges of 16 percent in March, 16.5 percent in February, 16 percent in January, 16 percent in December and 21 percent in November.
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, April 24) 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 April 24, the DOE reported a diesel retail price of $2.88 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.
The 21 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 May will be 27 percent.
4/25/2006
Rail News: Intermodal
CSXI's May fuel surcharge to go up 3.5 percentage points
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CSX Intermodal is feeling the effects of rising fuel costs. Next month, the company’s customers will, too. On May 1, CSXI will begin implementing a monthly fuel surcharge of 21 percent, up 3.5 percentage points compared with April’s surcharge.
CSXI previously implemented surcharges of 16 percent in March, 16.5 percent in February, 16 percent in January, 16 percent in December and 21 percent in November.
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, April 24) 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 April 24, the DOE reported a diesel retail price of $2.88 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.
The 21 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 May will be 27 percent.
