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Rail News: Rail Industry Trends
10/31/2001
Rail News: Rail Industry Trends
Lower fuel prices lead NS to drop surcharge
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Falling diesel prices helped Norfolk Southern Railway improve its third-quarter bottom line, and now the Class I wants to pass some of its savings onto customers.
The railroad Oct. 30 announced plans to remove a fuel surcharge on coal and carload traffic beginning on or after Oct. 31 bill-of-lading dates.
NS in December 2000 increased its fuel surcharge from 2 percent — implemented in October 2000 — to 4 percent.
The Class I has no plans to re-institute a fuel surcharge — displayed as a miscellaneous charge added to line-haul freight charges on customers' bills — unless the daily price of West Texas crude oil closes above $30-per-barrel levels for 30 consecutive days, which are defined as days the Wall Street Journal is published (meaning weekends and some holidays are excluded).
The railroad Oct. 30 announced plans to remove a fuel surcharge on coal and carload traffic beginning on or after Oct. 31 bill-of-lading dates.
NS in December 2000 increased its fuel surcharge from 2 percent — implemented in October 2000 — to 4 percent.
The Class I has no plans to re-institute a fuel surcharge — displayed as a miscellaneous charge added to line-haul freight charges on customers' bills — unless the daily price of West Texas crude oil closes above $30-per-barrel levels for 30 consecutive days, which are defined as days the Wall Street Journal is published (meaning weekends and some holidays are excluded).
