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A sign that diesel prices finally are heading downward: CSX Intermodal’s October fuel surcharge is dropping 5.5 percentage points to 17.5 percent compared with September’s surcharge.

The company’s surcharge previously rose 0.5 percentage points in September to 23 percent and 1.5 percentage points in August to 22.5 percent after fluctuating from 21 percent in May to 21.5 percent in June to 21 percent in July. The last time CSXI’s monthly fuel surcharge fell below 20 percent was in April, when the surcharge was 17.5 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, Sept. 25) 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 Sept. 25, 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, CSXI increases its fuel surcharge 0.5 percent for every four-cent increase in fuel price.

Effective Oct. 2, 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 October will be 23 percent.