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On Monday, CSX Intermodal will begin implementing a 10 percent fuel surcharge for February, matching January's surcharge and ending a two-month decline.
In December, November and October 2004, CSXI applied monthly fuel surcharges of 11.5 percent, 13 percent and 10 percent, 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, Jan. 31) 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 Jan. 31, the DOE reported a diesel retail price of $1.99 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 10 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 February will be 15 percent.
2/2/2005
Rail News: Mechanical
CSXI maintains monthly fuel surcharge at 10 percent
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On Monday, CSX Intermodal will begin implementing a 10 percent fuel surcharge for February, matching January's surcharge and ending a two-month decline.
In December, November and October 2004, CSXI applied monthly fuel surcharges of 11.5 percent, 13 percent and 10 percent, 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, Jan. 31) 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 Jan. 31, the DOE reported a diesel retail price of $1.99 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 10 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 February will be 15 percent.
