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Rail News: Intermodal
CSX Intermodal customers will really feel the effects of high diesel prices when they look at their freight bills next month. On Sept. 5, CSXI will implement a monthly fuel surcharge of 17.5 percent, a three percentage-point increase compared with August’s surcharge.
The company’s fuel surcharge previously held steady at 14.5 percent in August and July after rising 2.5, 0.5, 2 and 1.5 percentage points in June, May, April and March, 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, Aug. 29) 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 Aug. 29, the DOE reported a diesel retail price of $2.59 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 17.5 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 September is 23 percent.
8/30/2005
Rail News: Intermodal
CSXI's fuel surcharge to surge upward in September
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CSX Intermodal customers will really feel the effects of high diesel prices when they look at their freight bills next month. On Sept. 5, CSXI will implement a monthly fuel surcharge of 17.5 percent, a three percentage-point increase compared with August’s surcharge.
The company’s fuel surcharge previously held steady at 14.5 percent in August and July after rising 2.5, 0.5, 2 and 1.5 percentage points in June, May, April and March, 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, Aug. 29) 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 Aug. 29, the DOE reported a diesel retail price of $2.59 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 17.5 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 September is 23 percent.
