CSX Intermodal's monthly fuel surcharge is about to rise again after holding steady at 10 percent the past two months. On Monday, CSXI will begin implementing an 11.5 percent surcharge for March.
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, Feb. 28) 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 Feb. 28, the DOE reported a diesel retail price of $2.12 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 11.5 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 March will be 15 percent.