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Rail News: Rail Industry Trends
3/21/2003
Rail News: Rail Industry Trends
CSXT to dole out fuel surcharge in smaller doses
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On March 20, CSX Transportation announced plans to raise or lower its fuel surcharge in smaller increments to be more in line with crude oil-price fluctuations.
The Class I will adjust its surcharge — designed to recover some fuel costs from shippers — up or down 0.4 percent for every dollar oil prices increase or decrease from $23 per barrel, based on the 30-day average price of West Texas Intermediate crude oil. CSXT won't institute a surcharge if fuel prices drop below $23 per barrel.
Similar to all Class Is, CSXT now increases its surcharge in 2 percent increments for every $5-per-barrel rise in crude oil prices above the $23 mark.
CSXT plans to amend its fuel-surcharge program later this month, with the changes — which won't affect CSX Intermodal's fuel-cost recovery program — taking effect by mid-April.
The Class I will adjust its surcharge — designed to recover some fuel costs from shippers — up or down 0.4 percent for every dollar oil prices increase or decrease from $23 per barrel, based on the 30-day average price of West Texas Intermediate crude oil. CSXT won't institute a surcharge if fuel prices drop below $23 per barrel.
Similar to all Class Is, CSXT now increases its surcharge in 2 percent increments for every $5-per-barrel rise in crude oil prices above the $23 mark.
CSXT plans to amend its fuel-surcharge program later this month, with the changes — which won't affect CSX Intermodal's fuel-cost recovery program — taking effect by mid-April.
