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Canadian Pacific Railway recently implemented a new fuel surcharge program that enables the railroad to adjust surcharges more quickly as fuel prices rise or fall. The program also "provides customers surcharges that are more closely tied to current fuel prices," according to a prepared statement.

CPR will base its surcharge on the monthly average price of West Texas Intermediate (WTI) crude oil instead of a quarterly average WTI price.
The fuel surcharge will be 2 percent or 4 percent when the WTI monthly average price reaches $24 or $27 per barrel, respectively. The Class I will increase the surcharge 0.4 percent for each dollar the WTI average price rises above $27 per barrel.

CPR's fuel surcharge applies to published tariff rates, new quoted rates and contract renewals.