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Rail News: Rail Industry Trends
5/29/2009
Rail News: Rail Industry Trends
CSXI, UP to increase fuel surcharges in June
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Just as gasoline prices are creeping back up, CSX Intermodal's monthly fuel surcharge will rise slightly in June. On Monday, the company will implement a 13.5 percent fuel surcharge for the month, up 0.5 percent from May's and April’s 13 percent surcharges.
The company previously applied fuel surcharges of 12 percent in March, 13.5 percent in February and 14.5 percent in January. The drayage-only fuel surcharge for June will be 18 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, May 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 May 25, the DOE reported a diesel retail price of $2.27 per gallon.
Meanwhile, Union Pacific Railroad's carload rate-based Highway Diesel Fuel (HDF) surcharge will increase to 10 percent in June vs. May’s 8.5 percent surcharge. The rate-based standard HDF surcharge program is based on the DOE's U.S. average on-highway diesel fuel price. UP's HDF surcharge is projected to remain at 10 percent in July, according to May basis-month data.
Norfolk Southern Railway will continue to apply no fuel surcharge in June for Tariff NS 8003 Series- and Tariff NS 8004 Series-related traffic. The Class I anticipates a zero surcharge in July, as well.
The company previously applied fuel surcharges of 12 percent in March, 13.5 percent in February and 14.5 percent in January. The drayage-only fuel surcharge for June will be 18 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, May 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 May 25, the DOE reported a diesel retail price of $2.27 per gallon.
Meanwhile, Union Pacific Railroad's carload rate-based Highway Diesel Fuel (HDF) surcharge will increase to 10 percent in June vs. May’s 8.5 percent surcharge. The rate-based standard HDF surcharge program is based on the DOE's U.S. average on-highway diesel fuel price. UP's HDF surcharge is projected to remain at 10 percent in July, according to May basis-month data.
Norfolk Southern Railway will continue to apply no fuel surcharge in June for Tariff NS 8003 Series- and Tariff NS 8004 Series-related traffic. The Class I anticipates a zero surcharge in July, as well.
